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Senegal’s second-largest city secures parametric contract structured by AXA Climate
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Senegal’s second-largest city secures parametric contract structured by AXA Climate
Pikine, Senegal’s second-largest city with more than 750,000 inhabitants, has signed a parametric insurance contract against excessive rainfall, structured by AXA Climate, and insured by a consortium of Senegalese insurers, AXA Sénégal, ASKIA Assurances, and SUNU Assurances, reinsured by African Risk Capacity (ARC) Ltd. This insurance will enable Pikine to receive 200 million CFA francs in the event of rainfall exceeding 126 mm over two consecut…
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