image credit: Adobe Stock

World Bank assists on Mozambique cyclone reinsurance program

March 23, 2023


The World Bank has assisted in the structuring of a cyclone reinsurance arrangement to protect Mozambique’s state insurer against the impacts of major storms, working alongside parametric insurtech PULA and managing general agent Africa Specialty Risks (ASR).

The US $35 million parametric reinsurance cover will provide a pay-out to the state insurer when certain triggers are met during a cyclone event, providing resilience to the Mozambique economy against the destructive effects of these storms.

Read More on Artemis BM