Blue Marble, a UK-based micro insurer, has launched a reinsurance facility to expand parametric climate protection.
This Impact Reinsurance Facility is designed to close the protection gap for communities vulnerable to climate shocks.
It aims to empower insurers and brokers to create “scalable, high-impact” solutions for climate protection, offering trigger-based parametric coverage.
Backed by Zurich Insurance and a consortium of global reinsurers, the new facility seeks to expand climate insurance throughout Latin America, Africa and Asia.
The facility offers protection against cyclones, drought, excess rainfall, extreme temperatures, hurricanes and storms.
It is accessible to reinsurers seeking to expand climate risk protection using parametric solutions, as well as brokers planning to secure additional capacity for clients.
In a LinkedIn post, the company stated that financial institutions, governments, international organisations and industries serving underserved communities – including banks, agro traders, cooperatives, and the tourism sector – will benefit from this initiative.
It further noted that the facility is “designed to be agile and responsive, allocating capacity where it is needed most”.
In December 2024, the company, as part of an insurers’ consortium, teamed up with InsuResilience Solutions Fund to introduce forecast-based insurance solutions to the Kyrgyz Republic.
Blue Marble offers two technology solutions: AgSuite, a platform to design and operate parametric agriculture schemes, and DxSuite, a configurable application programming interface (API) to scale up mass market schemes.
"Blue Marble unveils reinsurance facility for climate protection " was originally created and published by Life Insurance International, a GlobalData owned brand.
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