A new impact fund named the Natural Disaster Fund (NDF) Deutschland has been formed jointly by Global Parametrics (GP) and the German Federal Ministry for Economic Cooperation and Development (BMZ) in partnership with the German Development Bank (KfW) and Hannover Re.
The Insurance and Pensions Commission (IPEC) says it is working with the World Bank to develop a framework for weather based index insurance aimed at expanding the capability of Zimbabwe's insurance industry and increasing financial inclusion.
African legislators have been challenged to come up with legal frameworks for climate change to enable countries avoid catastrophes and reactionary emergencies that eat up their budgets.
frican Risk Capacity Insurance, the subsidiary of African Risk Capacity (ARC), a specialised agency of the African Union, says it is keen to help the continent hedge against disaster-induced risks without having to rely on foreign aid.
The IRDAI is working on a plan to launch government-funded catastrophe (cat) cover for the poor segments of society. The project will start as a pilot scheme in selected states.
China faces four main risks in expanding its coal power capacity, points out Ms Jennifer Layke, global director of World Resources Institute's (WRI) Energy Programme.
Japan's Daiichi Life Insurance is investing in a five-year Sustainable Development Bond issued by the World Bank to highlight the vital role of the world's freshwater and marine resources and the importance of addressing water and ocean pollution, including plastic waste in oceans.
From 1 December government buildings in seismically-active Indonesia will be insured by a consortium of 56 insurance companies for the first time.
The Insurance Commission (IC) is seeking to amend the insurance law, about six years since it was last revamped in 2013, to cater to developments like takaful and catastrophe insurance.
SCOR has announced the launch of a new three-year contingent capital facility which takes the form of a contingent equity line, providing the Group with EUR300m ($332m) coverage in case of extreme natural catastrophe or life events impacting mortality. The facility enables the Group to protect its solvency in case of catastrophe events and is consistent with the "Quantum Leap" strategic plan.