December 18, 2024
Swiss Re AG, Tokio Marine Holdings Inc., AXIS Capital Holdings Ltd. and AXA SA are among providers of $3 billion in credit-risk insurance for the private-sector arm of the World Bank Group, as it seeks to expand its lending in …
March 29, 2019
The International Finance Corp. (IFC), a member of the World Bank Group, announced it has signed an agreement with Africa Re, the pan-African reinsurance company, to help small holder Nigerian farmers more easily access insurance to protect their crops and …
September 13, 2018
The Insurance Development Forum (IDF) announced the appointment of Denis Duverne as chair of its Steering Committee, succeeding Stephen Catlin, effective Sept. 11, 2018. The IDF is a public-private partnership, led by a senior insurance industry executive and supported by …
August 7, 2017
The World Bank Group issued its largest catastrophe bond, providing Mexico with financial protection of as much as $360 million against losses from tropical cyclones and earthquakes. Mexico is among the countries most vulnerable to natural disasters, the bank said …
May 17, 2016
A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural disasters, while bridging the insurance protection gap for …
April 19, 2016
The insurance industry, the United Nations and the World Bank have formed a public-private partnership designed to help bridge the “protection gap” for developing nations, which struggle increasingly from the burden of uninsured economic losses after natural disasters. The Insurance …
February 23, 2015
AXA has entered into an agreement to acquire a 7.15 percent stake in African Reinsurance Corporation, the leading reinsurance company in Africa. Under the terms of the agreement, the total cash consideration payable at closing would amount to USD$61 million …
July 2, 2014
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, announced the placement of Floating Rate CCRIF Catastrophe-Linked Capital at Risk Notes, with notional principal of $30,000,000, issued by the International Bank for Reconstruction and …
September 11, 2013
Political risk insurance provided by a World Bank Group agency in developing nations rose for a third straight year to a record, led by guarantees on power projects from Angola to Bangladesh. The Multilateral Investment Guarantee Agency in Washington issued …