Reinsurance News
World Bank
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
Floods in Malawi and Mozambique trigger REPAIR’s parametric coverage
30th January 2026
The floods devastating Malawi and Mozambique have triggered the Regional Emergency Preparedness and Inclusive Access to Recovery (REPAIR) programme’s prametric trigger, resulting in a disbursement of over $22.3 million within seven business days to support urgent national flood response operations in the countries, enabling governments to mobilise immediate relief. As participating ... Read the full article
Hurricane Melissa triggers $150mn World Bank cat bond for Jamaica
7th November 2025
The Government of Jamaica will receive a full payout of $150 million under its catastrophe insurance coverage, backed by a World Bank catastrophe bond, following the devastating impact of Hurricane Melissa. Hurricane Melissa was the thirteenth named storm and the fourth major hurricane of the 2025 North Atlantic hurricane season. For ... Read the full article
REPAIR programme’s Phase 2 extends to Angola, Burundi, Malawi, Seychelles and Zambia
28th July 2025
The World Bank has approved the accession of five countries - Angola, Burundi, Malawi, Seychelles, and Zambia - under Phase 2 of the Regional Emergency Preparedness and Access to Inclusive Recovery (REPAIR) programme. This widens the programme’s geographical reach, boosting its ability to enhance the resilience of vulnerable populations in Eastern ... Read the full article
World Bank launches REPAIR program to boost climate resilience in Eastern & Southern Africa
1st August 2024
The World Bank's recently approved Regional Emergency Preparedness and Inclusive Recovery Program (REPAIR), which African Risk Capacity Limited will implement, is set to enhance Eastern and Southern African countries' resilience against climate shocks and attract $205 million in private capital to support these efforts. According to the World Bank, over six ... Read the full article
World Bank issues $175m parametric cat bond for Mexico’s Pacific hurricane risk
16th May 2024
Mexico has secured $175 million of additional insurance protection against named storm events occurring on the Pacific side of Mexico via a catastrophe bond transaction facilitated by the World Bank and IBRD. With this bond, the Government of Mexico significantly expands the country's coverage for Pacific hurricane risk from the ... Read the full article
The World Bank issues $420m parametric cat bond for the Government of Mexico
17th April 2024
The World Bank has issued $420 million in catastrophe bonds for renewed disaster risk protection for the Government of Mexico. The cat bond, which will finance insurance coverage against named storm events along the Atlantic coast of Mexico and earthquake events, will be issued by the International Bank for Reconstruction ... Read the full article
Fathom and The World Bank partner to strengthen flood resilience in 16 countries
14th February 2024
Swiss Re's recently acquired, UK-based provider of water risk intelligence and flood models, Fathom, has strategically teamed up with The World Bank to offer its flood data for non-commercial use, free of charge, to 16 countries. The new agreement targets regions that often struggle with limited data resources and are ... Read the full article
IMF/World Bank Annual Meetings reveal greater downside risks for global economy
16th October 2023
The Annual Meetings of the IMF and World Bank in Morocco conveyed a sobering message of global economic resilience overshadowed by fragility and an array of potential non-linear risks, painting a disconcerting picture where downside risks outweigh the upside in the short to medium term. The meetings conveyed a sombre mood, ... Read the full article
JBA to provide World Bank with Global Flood Maps under Development Data Partnership
12th July 2023
JBA, a leading flood science specialist, has been selected to supply the World Bank with enhanced access to its Global Flood Maps. This development follows JBA's appointment to the esteemed Development Data Partnership, which facilitates the responsible utilisation of third-party data in international development. The collaboration allows the World Bank to leverage ... Read the full article
Mozambique secures $35m cyclone parametric reinsurance placement
22nd March 2023
The Mozambique government has secured USD 35 million of parametric cyclone insurance via the National Institute of Disaster Management (INGD), supported by Africa Specialty Risks, The World Bank, and PULA. The inaugural, Mozambique cyclone parametric reinsurance program is designed to provide the country's economy with resilience against the effects of cyclones ... 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
World Bank puts economic cost of Turkey quakes at $34bn
28th February 2023
Analysts at the World Bank have estimated that the recent devastating earthquakes that occurred in Turkey will result in some $34 billion of economic costs, based on direct physical damages. At this level, losses from the February quakes would be equivalent to around 4% of Turkey’s total GDP. But the World Bank ... Read the full article
WFP & World Bank agree to scale up disaster risk protection
22nd November 2022
The United Nation’s World Food Programme (WFP) and the World Bank have signed an agreement to scale up disaster risk protection financed by Germany and the UK for vulnerable communities and nations that are faced with catastrophic climate extremes like storms and drought. Under the agreement, WFP will receive US$20 million ... 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
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