Global Parametrics, the parametric and index-based disaster risk transfer company, has launched a new natural catastrophe focused investment fund that has received backing from global reinsurance firm Hannover Re and the German government.Read more
In December 2019, Hannover Re, KfW and our Natural Disaster Fund announced joint collaboration, with the aim to bring sustainable risk transfer solutions to low and middle income countries.
One year on, our partnership has reached over 10 million beneficiaries, across 21 countries in Latin America, Africa and Asia.
At the Insuresilience Global Partnership Forum on Monday 7th December, we took a look back on our first year, exploring the importance of public private partnerships for implementing actionable programmes to combat the protection gap.
Speakers included our founder Dan Bierenbaum, Principal Portfolio Manager Stefan Hirche of KfW and Hannover Re’s Managing Director Henning Ludolphs.
Watch the event here:
Global Parametrics (GP) has structured two risk transfer solutions using its new Water Balance Index (WBI), enabling partners IBISA and One Acre Fund to provide drought and excess rainfall protection in India and Tanzania. The WBI estimates changes to the proportion of water in soil, using monthly rainfall, evapotranspiration and other weather variables such as temperature and wind speed. WBI has uses worldwide: to hedge drought risks and reduce the negative impacts of water imbalance on crops, closely tied to water shortages, food insecurity and economic losses.