African Risk Capacity Limited (ARC Ltd), Africa’s pioneering sovereign parametric development insurer, has announced a groundbreaking achievement with a record total payout of US$60 million in 2022.
This milestone marks the largest payout since the company’s establishment in 2014, underscoring the invaluable impact of its work in protecting African nations from the escalating risks associated with climate change.
In 2022, ARC Ltd. provided coverage to a staggering 18 million people living in countries susceptible to droughts and tropical cyclones.
