The NDF is a blended risk transfer vehicle designed to mitigate climate-related challenges and build resilience for low-and-middle-income countries and currently has a portfolio of more than $100m of risks.
LONDON: MS Amlin, the Lloyd’s global specialist (re)insurer, today announced that it will join the Natural Disaster Fund (NDF) as a commercial capacity partner.
This partnership, alongside long-standing partner Hannover Re, a leading global reinsurer, will strengthen the NDF’s ability to provide climate and disaster protection as well as private risk capacity to vulnerable communities across the Global South.
The NDF is a blended risk transfer vehicle designed to mitigate climate-related challenges and build resilience for low-and-middle-income countries and currently has a portfolio of more than $100m of risks.
By making available $50m to share risk, MS Amlin is supporting the growth of the NDF and therefore its core mission: to protect societies from the consequences of natural disasters. As climate change continues to increase the frequency and severity of natural catastrophes, innovative public-private partnerships such as the NDF are playing an increasingly key role in efforts to close protection gaps.
“Our participation with the NDF reflects our commitment to deploying capacity where it can support adaptation, resilience and long-term insurability,” said Amir Sethu,MS Amlin’s Head of Sustainability.
“We are excited to be joining such an innovative structure, to support its mission and the vital work it undertakes worldwide. Through close collaboration with the NDF and its partners, we will help to mitigate losses caused by natural disasters and build a more resilient future for
vulnerable communities around the world.”
“MS Amlin joining the NDF as a risk-sharing partner is an important new chapter in the NDF’s journey.“It is part of the NDF’s mission to grow and to onboard global risk institutions,” added Mark Rueegg, Chief Executive Officer at CelsiusPro Group.
Therefore, building on the work with our highly-valued long-standing partner Hannover Re, we are bringing together cornerstone organisations in the risk transfer
sector to grow the NDF and its portfolio, and therefore to increase the delivery of meaningful and sustainable impact where it is most needed.”