The climate risk technology platform, Arbol, has today announced its expansion it’s the UK via the launch of a new London-based MGA. The newly established business will look to leverage Arbol’s UK partnerships with capacity brokers and brokers to fortify its global network and service the international insurance market outside the US.
In a Press release, Arbol highlighted that this is a “pivotal moment” for the business which underscores its ambition to serve stakeholders impacted by climate risk globally. Through the expansion, Arbol said it is looking to ‘redefine standards of resilience and sustainability worldwide’.
“We aim to provide businesses with straightforward and practical tools to manage climate risks,” said Sid Jha, CEO and Founder of Arbol. “Our London-based MGA combines the proprietary technology, data, and underwriting tools of the Arbol ecosystem with our team’s global expertise in structuring climate solutions, offering businesses a reliable shield against seasonal and catastrophic climate risks.
“As climate change impacts more businesses and communities globally, we remain steadfast in our mission to help global stakeholders build operational resilience against these risks,”
Hector Ibarra, managing director of Arbol Insurance Services – UK also commented on the launch noting that Arbol specialises in parametric financial products, offering businesses a streamlined approach to managing climate risks.
Arbol's UK MGA will operate under FCA regulations to provide a variety of products for the agriculture, renewable energy, and construction industries. These products will address risks including rainfall variations and extreme temperatures, and provide solutions for catastrophic events such as hurricanes, hail, and floods.
Supported by an A.M. Best “A” rated Lloyd’s syndicate, Arbol Insurance Services – UK will also provide global parametric weather products. The new MGA will look to leverage its ties with the Lloyd's of London marketplace to partner with significant capacity providers and global reinsurers, in a bid to enhance its global presence and cater to underserved SMEs.
