Source: Reinsurance News
Climate risk solutions provider Arbol has closed a $60 million Series B funding round, co-led by Giant Ventures and Opera Tech Ventures with participation from Mubadala Capital.
Through leveraging global, trusted datasets for objective loss triggers, Arbol explained that it aims to broaden the adoption of parametric products and pioneer the concept of climate risk as a tangible, investable asset class.
According to the firm, the new funding will also support its continued expansion into agriculture and renewable energy through products tailored for new perils and geographies; and will additionally bolster Arbol’s global expansion and broaden its investment in property and casualty and home insurance business lines in the U.S. and internationally.
Sid Jha, Arbol’s founder and CEO, added, “This Series B funding marks a pivotal moment for Arbol, affirming our achievements and propelling our mission forward to normalize parametric financial products and insurance globally as key strategies in climate risk management.
Read full article: https://www.reinsurancene.ws/arbol-closes-60m-series-b-funding-round-to-scale-parametric-insurance/
