Reinsurance News
World Bank Group
IFC targets $50m guarantee support for African reinsurer ZEP-RE
11th March 2026
The World Bank's International Finance Corporation (IFC) is arranging a guarantee facility of up to $50 million to cover the reinsurance credit risk of ZEP-RE, a leading reinsurer in Africa headquartered in Nairobi, Kenya. Established in 1990, ZEP-RE delivers "inclusive & innovative" re/insurance solutions across the continent to close the protection ... Read the full article
MSIG and IFC launch $6bn credit insurance facility to boost financing in developing nations
25th February 2026
MSIG USA and Mitsui Sumitomo Insurance Company, Limited (MSI Japan) - collectively referred to as MSIG - have partnered with the International Finance Corporation (IFC), a member of the World Bank Group, for a new insurance-backed credit facility designed to expand access to finance in emerging markets. Under the facility, MSIG ... Read the full article
Lloyd’s and the World Bank Group target increased guarantee issuance
26th September 2024
Lloyd's, the specialist insurance and reinsurance marketplace, has partnered with the World Bank Group's Multilateral Investment Guarantee Agency (MIGA) in an effort to boost annual guarantee issuance to $20 billion by 2030. For this initiative to be successful, collaboration with reinsurers will be vital, and the cover provided by the Lloyd's ... Read the full article
Jamaica gets $150m of named storm insurance coverage with renewal of World Bank cat bond
26th April 2024
The World Bank has priced a catastrophe bond that provides $150 million in insurance coverage for the Government of Jamaica against named storm events. IBRD CAR Jamaica 2024 is a renewal of The World Bank’s 2021 cat bond for Jamaica, IBRD CAR 130, which was the first small island ... Read the full article
World Bank revolutionises disaster relief with integrated cat insurance in lending products
23rd June 2023
The World Bank Group has unveiled plans to expand its catastrophe insurance offerings, including Cat Bonds, by integrating them into lending products, providing a groundbreaking solution for disaster-stricken countries. In an effort to make these insurance products accessible to lower-income nations, the World Bank Group aims to collaborate with donors to ... Read the full article
World Bank cat bond & swap to provide $630m cover for Chile quakes
17th March 2023
The International Bank for Reconstruction and Development (IBRD), has priced a joint catastrophe bond and swap transaction that provides a total of $630 million of earthquake insurance coverage to the Government of Chile. The deal by the lending arm of the World Bank consists of $350 million of protection from the ... Read the full article
V20 and G7 launch Global Shield initiative at COP27, backed by World Bank
15th November 2022
The Vulnerable 20 Group of Finance Ministers (V20) of 58 climate vulnerable economies and the Group of Seven (G7) have launched the Global Shield against Climate Risks, an initiative for pre-arranged financial support designed to be deployed during climate disasters. Launched at COP27 this week, initial contributions to the initiative include ... Read the full article
CCRIF SPC, World Bank issue parametric fisheries insurance
5th July 2019
The Caribbean Catastrophe Risk Facility, CCRIF SPC, and the World Bank have issued the Caribbean Oceans and Aquaculture Sustainability Facility (COAST) fisheries parametric insurance policy to two of its member governments – Grenada and Saint Lucia. The COAST insurance policies provide coverage to individuals in the fisheries industry, enabling them to ... Read the full article
World Bank renews Philippines catastrophe cover at $390mn
14th January 2019
The World Bank has announced the renewal of a parametric insurance program that helps the Philippines better respond to losses from natural disasters, at an increased size of $390 million. The renewal is almost double the size of the $206 million of insurance coverage secured under the 2017 policy, and provides ... Read the full article
World Bank Group launches $145mn cat risk facility with UK and German govs
15th October 2018
The World Bank Group, in partnership with the governments of the UK and Germany, has announced the launch of a US $145 million Global Risk Financing Facility (GRiF) to help vulnerable countries manage the financial impact of natural catastrophes and climate change. The Group explained that this kind of disaster risk ... Read the full article
World Bank Group’s MIGA to share risk with Japan’s NEXI through reinsurance
9th May 2018
MIGA (Multilateral Investment Guarantee Agency), the political risk insurance arm of the World Bank Group, and NEXI, Japan's state-owned export credit agency, have entered an official agreement to share risk, through reinsurance, on investments made by Japanese firms in developing countries. The arrangement will see MIGA and NEXI purchase reinsurance policies ... Read the full article
Swiss Re joins global alliance to support smallholder farmers
25th April 2018
Swiss Re Corporate Solutions has launched a new global initiative in collaboration with World Bank Group member IFC, pharmaceutical and life sciences company Bayer, and irrigation manufacturer Netafim, which aims to support smallholders grow their farms into sustainable, commercially viable businesses. The initiative, called Better Life Farming, will offer risk transfer ... Read the full article
Swiss Re to insure up to $500mn credit risk on IFC loans
19th April 2018
Swiss Re Corporate Solutions, the commercial insurance arm of global reinsurer Swiss Re, has partnered with the International Finance Corporation (IFC) to expand a "pioneering platform" by $500 million, supporting greater investments designed to modernise infrastructure in emerging markets. Under the agreement, Swiss Re will insure a portion of the credit ... Read the full article
Liberty completes first deal in partnership with World Bank’s IFC
4th April 2018
Liberty Specialty Markets (LSM) has closed its first deal under a new partnership with International Finance Corporation (IFC), a member of the World Bank Group, which sees LSM insure a loan of US $185 million from IFC to Vietnam Commercial Joint Stock Bank (VIB). Last year, LSM agreed to provide unfunded ... Read the full article
World Bank issues $1.36bn first-ever multi-country earthquake cat bond
7th February 2018
The World Bank has issued a first-of-its kind multi-country earthquake catastrophe bond that provides a total of US$1.36 billion in earthquake protection to Chile, Colombia, Mexico and Peru. The earthquake bond is the second largest in the history of the catastrophe bond market and is the largest ever sovereign risk insurance ... Read the full article
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