Rising climate death toll in Africa underscores urgency for COP28 action
JOHANNESBURG – It’s been a year of climate carnage in Africa. At least 15 700 people have lost their lives to extreme weather disasters, according to the latest report from Carbon Brief, while another 34 million have been affected. From flooding to intense heatwaves and drought, these devastating statistics represent a human emergency on an […]
Charting Disaster Resilience: MOU Signals Sovereign Risk Pool’s Commitment
JOHANNESBURG – A recent sovereign risk pools summit hosted by the Centre for Disaster Protection and Gallagher Re has resulted in a joint Memorandum of Understanding. Held on 5 October 2023, the summit facilitated strategic engagement for the CEOs of African Risk Capacity Limited (ARC Ltd, a financial affiliate of the ARC Group), the Pacific […]
Upscaling and risk-layering for climate resilience in Malawi
JOHANNESBURG – African Risk Capacity (ARC) Ltd. has come on board to assist the Malawi Government with an insurance innovation that will scale up the World Bank’s Social Support for Resilient Livelihoods Project (SSRLP) in the country. This will see Malawi’s flagship safety net – the Social Cash Transfer Programme (SCTP) – reinforced with a […]
ARC Ltd releases 2022 Annual Report
JOHANNESBURG – A record total payout of US$60 million in 2022 is among the highlights detailed in ARC Ltd.’s integrated annual report, together with significant strides in innovation to safeguard African nations from the increasing risks associated with climate change. The payout was the largest since the company’s inception in 2014, underpinning the value of […]
African Risk Capacity Limited appoints two non-executive directors
JOHANNESBURG – African Risk Capacity (ARC) Limited has announced the appointment of two non-executive directors to its Board. The hybrid mutual insurer and financial affiliate of the African Risk Capacity Group has appointed Deepak Dave and Maxwell Mkwezalamba for a three-year term, ending with the ARC Ltd. AGM in 2026. The pair have extensive Board […]
SATIB INTRODUCES SATIBGo: A NEW INSURANCE OFFERING FOR TRAVELLERS TO AFRICA
SATIBGo offers inbound visitors comprehensive travel insurance cover, including unparalleled incident management services across Africa. Johannesburg, 1 August, 2023 – Many travel insurance products and assistance services available in Africa’s source markets fall short when it comes to catering for travellers to Africa. SATIBGo Inbound Travel Insurance (SATIBGo) fills the gap, providing comprehensive cancellation cover […]
Fitch upgrades ARC Ltd.’s Outlook to Stable with an IFS Rating of ‘A-‘
JOHANNESBURG – Fitch Ratings has upgraded African Risk Capacity (ARC) Limited’s outlook to stable with an Insurer Financial Strength (IFS) rating of ‘A-‘ and a Long-Term Issuer Default Rating (IDR) of ‘BBB+’. The credit rating agency notes the upgrade is due to ARC Ltd.’s “strong progress in terms of meeting its development objectives, demonstrated by […]
The ARC Group announces a USD 2.5 million insurance payout to the Togolese Republic’s recovery from drought
As the West and Central Africa region count the cost of the recurring drought events that have swept through parts of the region, particularly during the 2022 agricultural season, the African Risk Capacity (ARC) Group recently made an insurance payout of USD 2.5 million to the Government of the Togolese Republic to honour the conditions […]
The Government of the Republic of Madagascar and World Food Programme receive $1.5 million insurance payout for Tropical Cyclone Freddy recovery efforts
Antananarivo, 26 April 2023 – Representatives from the African Risk Capacity (ARC) Group and the African Development Bank presented two symbolic cheques to the Government of the Republic of Madagascar and World Food Programme for a combined insurance payout of $1.5 million to support the country’s recovery from Tropical Cyclone Freddy. This payout includes $1.2 […]
The ARC Group announces an insurance payout to the Republic of The Gambian towards recovery from drought
The Government of the Republic of The Gambia recently received an insurance payout of USD 187 641 following its participation in the African Risk Capacity (ARC) Group mechanism, designed to help African Union (AU) member states plan, prepare and to better respond to extreme weather events. The funds come at a time when the country […]
