Reinsurance News
Global Parametrics
Climate risk insurance for vulnerable women in India’s informal sector: CelsiusPro
6th May 2024
CelsiusPro’s Global Parametrics team, in collaboration with Mahila Housing Trust, Howden Insurance Brokers Limited, and Go Digit General Insurance, has introduced a pioneering climate risk insurance (CRI) product providing financial protection for women in India's informal sector against extreme heatwaves. In India, where 80% of the workforce operates in the informal ... Read the full article
Floodbase’s parametric flood insurance programs to support farmers in Mozambique and Malawi
4th March 2024
Floodbase has been awarded a grant to launch parametric flood insurance programs for farmers in Mozambique and Malawi, with support from African Risk Capacity Limited (ARC Ltd.) and Global Parametrics. In Mozambique, over 80% of people depend on agriculture for their livelihoods, and 99% of smallholder farmers in Africa are uninsured ... Read the full article
CelsiusPro acquires Global Parametrics
6th September 2023
CelsiusPro AG has acquired Global Parametrics Holding Company Limited in a transaction that "significantly strengthens its global capabilities to offer parametric risk transfer solutions to both private and public sector clients in developed and developing economies." According to CelsiusPro, the acquisition creates an even stronger offering along the value chain of ... Read the full article
ICEYE & Global Parametrics enter data accord to drive disaster risk management
11th May 2023
ICEYE has entered into an agreement with Global Parametrics to provide flood data to support the development of innovative parametric risk transfer solutions. ICEYE states that as part of the agreement, its global Flood Insights data will be used by Global Parametrics to design, structure and execute parametric risk transfer structures. In ... Read the full article
Global Parametrics partners with ERN & Ingeniar on Colombia landslide risk
28th September 2021
Parametric and index-based disaster risk transfer firm Global Parametrics has partnered with ERN and Ingeniar to help design the first risk transfer parametric product for urban landslides in Manizales, Colombia. ERN is a Latin American specialist in catastrophe risk models, while Ingeniar has been the main private advisor for the local ... Read the full article
Global Parametrics & Fathom partner on flood index
19th March 2021
Parametric and index-based disaster risk transfer firm Global Parametrics has partnered with UK-based flood risk modeller Fathom on a flood index that will enable new levels of parametric solutions. Global Parametrics has combined high resolution data provided by Fathom with streamflow data from the ECMWF GloFAS hydrological and monitoring system to ... Read the full article
Global Parametrics’ new Water Balance Index deployed in India, Tanzania
26th November 2020
Parametric and index-based disaster risk transfer firm Global Parametrics has structured two risk transfer solutions designed to enable partners to provide drought and excess rainfall protection for smallholder farmers in India and Tanzania. The company leveraged a new multi-scalar meteorological index that uses monthly cumulative rainfall and potential evapotranspiration to estimate ... Read the full article
Hannover Re to participate as Global Parametrics backs Cambodian crop scheme
1st October 2020
Parametric and index-based disaster risk transfer company, Global Parametrics (GP), has announced its support for the AGRIBEE Crop Insurance Pilot to provide extreme weather protection cover for smallholder rice farmers in Cambodia. GP is providing cover for the transaction from its Natural Disaster Fund (NDF). Through the partnership agreement between the ... Read the full article
Global Parametrics renews Mexican reef cover, backed by Hannover Re
3rd September 2020
Global Parametrics, the parametric and index-based risk transfer startup, has led the renewal of a MXN 42.5 million (USD 1.9 Million) Mexican Reef Protection Program with reinsurance support from Hannover Re. Global Parametrics structured a parametric solution which pays out to support the restoration of a section of the Mesoamerican reef ... Read the full article
Global Parametrics provides solution for world’s remotest island
18th August 2020
Global Parametrics, the parametric and index-based risk transfer startup backed by the UK and German governments, has structured a solution to provide parametric protection for the world’s most remote habitable island. The solution provides protection against extreme windstorms for the Tristan Lobster Processing Facility, the main business on Tristan da Cunha, ... Read the full article
Global Parametrics targets coverage for Costa Rice coffee farmers
17th April 2020
Global Parametrics, a parametric and index-based risk transfer startup backed by the UK and German governments, has partnered with Arbol Inc. and Propina to provide coverage to smallholder coffee farmers in Costa Rica. Propina is a non-profit organisation with a platform that connects coffee consumers to coffee farmers around the world ... Read the full article
Hannover Re backs parametric disaster fund for developing markets
9th December 2019
Hannover Re has committed $50 million of capacity to a new risk transfer fund for natural disasters, developed in partnership with the German government and Global Parametrics, a provider of parametric protection in developing markets. The NDF Deutschland has also secured initial commitments of €25 million from the German Federal Ministry ... Read the full article
DFID & Global Parametrics to support Red Cross volcano cat bond
5th July 2019
The UK Government’s Department for International Development (DFID) and Global Parametrics have agreed in principal to support the world’s first pure-volcano catastrophe bond, launched by the Danish Red Cross. Global Parametrics, a parametric and index-based risk transfer startup backed by the UK and German governments, advised the DFID’s Natural Disaster Fund ... Read the full article
Global Parametrics adds HSBC’s Deborah Hazell as Non-Exec Director
14th March 2019
Global Parametrics, a parametric and index-based risk transfer startup backed by the UK and German governments, has appointed Deborah Hazell as a Non-Executive Director. Hazell currently serves as Chief Executive Officer of HSBC Global Asset Management (Americas) and oversees close to $100 billion in assets across the region. “The Board is excited ... Read the full article
Global Parametrics partners with supercomputing experts on climate risk modelling
4th February 2019
Global Parametrics, a parametric and index-based risk transfer start-up that’s backed by the UK and German governments, has partnered with the Barcelona Supercomputing Centre (BSC) to improve the speed and scale of its climate-related risk modelling. The BSC is a member of the Partnership for Advanced Computing in Europe (PRACE) and ... Read the full article
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