Reinsurance News
ARC Ltd
ARC and partners launch climate insurance pilot project
16th August 2022
A climate insurance pilot for agricultural value chains has been launched for Côte d'Ivoire rice farmers, initiated by the African Risk Capacity Limited (ARC Ltd), the Côte d'Ivoire Environment and Sustainable Development Ministry (MINEDD), and the United Nations Development Programme (UNDP) in Côte d’Ivoire. According to the announcement, the project aims ... Read the full article
ARC addresses role of insurance on climate change impacts in Africa
10th August 2022
The African Risk Capacity Insurance Company (ARC) has hosted a regional meeting to address the role of insurance in fighting climate change impacts on the African continent. Representatives from ARC member states and funding donor partners met in Malawi to discuss how parametric insurance has the potential to transform how the ... Read the full article
Fitch revises ARC Limited’s outlook to Positive
28th July 2022
Fitch has revised African Risk Capacity (ARC) Limited’s outlook to Positive from Stable and has also affirmed its IFS rating at BBB+. The credit rating agency says that this outlook revision reflects ARC Limited’s “strong progress in meeting its development objectives, which if sustained, could support a stronger ... Read the full article
ARC Group and African Bank provide drought insurance payout to Zambian Government
17th June 2022
A symbolic $5.3m cheque has been presented to the Zambian Government as payout for the drought insurance taken under the Africa Disaster Risk Financing Programme Multi-Donor Trust Fund. The fund is supported by the Governments of the United Kingdom, through the Foreign, Commonwealth and Development Office, and Switzerland, through the Swiss ... Read the full article
Malawi gets $14m drought pay-out from ARC
8th June 2022
It’s been announced that drought-affected households in Malawi will receive a combined US $14.2 million of relief with an upcoming climate insurance pay-out by African Risk Capacity (ARC) Limited to the Malawian government in June. Malawi is a signatory of the ARC Treaty established by African Risk Capacity, a specialised agency ... Read the full article
Tropical Cyclone Batsirai triggers $10.7m ARC payout to Madagascar
17th February 2022
The Government of Madagascar is set to receive a payout of USD 10.7 million from the African Risk Capacity (ARC) following the impacts of tropical cyclone Batsirai, which ripped through central and southern Madagascar on the 5th of February 2022. The storm claimed the lives of at least 121 people in ... Read the full article
ARC eyes inwards reinsurance after securing first industry rating
2nd October 2020
African Risk Capacity Limited (ARC), the commercial subsidiary of the African Risk Capacity Group (ARC Group), has secured an IFS 'BBB+' with Stable Outlook from Fitch, allowing the firm to gain access to new business by taking on inwards reinsurance. ARC’s Chief Executive Officer described the industry rating as an important ... Read the full article
German gov assists ARC members with €19mn COVID-19 support programme
18th June 2020
In light of the ongoing COVID-19 pandemic, the German government has committed to assume premium payments of approximately €19 million for the drought insurance offered by the African Risk Capacity (ARC). In a recent video message, Maria Flachsbarth, Parliamentary State Secretary at the German Federal Ministry for Economic Cooperation and Development ... Read the full article
The ARC Ltd appoints new CEO as Dolika Banda departs
10th February 2020
The African Risk Capacity Limited (the ARC Ltd), a financial affiliate of the Africa Risk Capacity (ARC), has announced Lesley Ndlovu as its new Chief Executive Officer (CEO), effective March 1st, 2020. Ndlovu's appointment comes after the expiration of the tenure of previous CEO Dolika Banda, who took over the post ... Read the full article
ARC and UNCCD to collaborate on drought, extreme weather resilience
24th October 2019
The Africa Risk Capacity (ARC), the parametric development insurance provider, is once again collaborating with the United Nations (UN) to develop financial tools to help Africa become more resilient to drought and other extreme weather events. This year alone, more than 45 million people across Africa are food insecure as a ... Read the full article
Senegal to receive at least $22mn from ARC following drought conditions
5th September 2019
The Government of Senegal is set to receive at least $22 million from the African Risk Capacity Insurance Limited (ARC Ltd) to cover losses from crop failures driven by drought in the 2019 agricultural season. In August 2019, Africa RiskView, the software underpinning the Arc parametric model, informed the Government of ... Read the full article
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