Hashtag: #AfricanRiskCapacity

ARC Ltd Appoints Former IFC Director As CEO

ARC Ltd Appoints Former IFC Director As CEO

The African Risk Capacity Insurance Company Limited [ARC Ltd] announced the appointment of former IFC Director Ms Dolika Banda as Chief Executive Officer, effective from 7 September 2016. She will take the reins from Dr Simon Young, who was appointed CEO in 2014 after playing a leading role in the development of the ARC programme. He will continue... Read more of this article

G7 Leaders Endorse African Risk Capacity Model

G7 Leaders Endorse African Risk Capacity Model

G7 leaders have singled out African Risk Capacity [ARC] as a model upon which to develop catastrophe insurance solutions in vulnerable regions. ARC Ltd was formed in late 2013 as the financial affiliate of ARC and is registered in Bermuda as a mutual insurer. The entity issued its first insurance policies on 1 May 2014. During the 41st G7 summit in... Read more of this article

Appleby Bermuda Wins Award For ART Structure

Appleby Bermuda Wins Award For ART Structure

Law firm Appleby has been recognised at a UK awards ceremony for its work involving a progressive transaction to provide African Union member countries with insurance coverage against climate-related risks. A team from Appleby Bermuda picked up ‘Most Innovative Use of an Alternative Risk Transfer [ART] Structure’ at the UK Captive Services Awards... Read more of this article

Bermuda’s ARC Ltd Mitigates Drought In Africa

Bermuda’s ARC Ltd Mitigates Drought In Africa

The Minister for Economic Development, Dr. Grant Gibbons said he is pleased to acknowledge that a Bermuda-based insurance pool could begin paying as early as this week some $25 million to support food-insecure regions in three African countries. The Minister was responding to word that policies had been triggered at the Bermuda-based catastrophe insurance... Read more of this article

Appleby Acts As Counsel To African ARC Ltd

Appleby Acts As Counsel To African ARC Ltd

Appleby acted as Bermuda counsel to African Risk Capacity [ARC], a specialised agency set up by the African Union [AU] in order to establish a specialist hybrid mutual insurance company to help AU member states become more resilient to extreme weather events and to protect insecure food populations in light of climate change. A spokesperson said, “Appleby... Read more of this article

Dr. Gibbons On Bermuda’s Selection For ARC

Dr. Gibbons On Bermuda’s Selection For ARC

Bermuda has been selected as the jurisdiction of choice to host the first ever African catastrophe insurance pool, Minister of Education and Economic Development Dr. Grant Gibbons said in the House of Assembly on Friday [May 16]. Dr. Gibbons said, “This insurance facility has been launched by an organisation called the African Risk Capacity [ARC],... Read more of this article

African Catastrophe Insurance Pool Launches

African Catastrophe Insurance Pool Launches

The first ever African catastrophe insurance pool has been launched by the African Risk Capacity [ARC], a specialised agency set-up by the African Union to help member states become more resilient to extreme weather events and to protect food insecure populations, in light of climate change. The ARC Agency has created a specialist hybrid mutual insurance... Read more of this article