
How innovative disaster risk financing can help Africa tackle impacts of climate change
Africa is already impacted by climate change and an innovative disaster risk financing scheme in Djibouti could set a precedent in tackling its effects.
David Maslo is the Chief Executive Officer of African Risk Capacity (ARC) Ltd, a hybrid mutual insurer that helps African countries prepare for and manage the financial impact of natural disasters.
David has a strong background in disaster risk insurance and financial management. Before becoming CEO, he worked in various roles at ARC Ltd, including as an underwriter and head of business development. He helped create and price insurance products that protect countries against risks like storms, floods, and disease outbreaks. He also played a key role in developing new programs that support vulnerable communities, such as insurance that helps governments provide social safety nets during crises and innovative agricultural insurance to protect farmers.
Before joining ARC Ltd as CEO, David was Chief Risk Management Officer at the Caribbean Catastrophe Risk Insurance Facility, where he managed disaster risk insurance for 30 countries in the Caribbean and Central America. Under his leadership, the facility managed over $1.5 billion in disaster risks and helped governments recover quickly after major events.
David holds two bachelor’s degrees from the University of Pretoria in Political Science and International Relations, and Economics. He also earned a certification in data science and is a member of the UK Institute and Faculty of Actuaries and the Institute of Directors. His professional qualifications include Chartered Property Casualty Underwriter (CPCU), Associate in Reinsurance (ARe), and he is certified in Insurance-Linked Securities.
Africa is already impacted by climate change and an innovative disaster risk financing scheme in Djibouti could set a precedent in tackling its effects.
Disaster risk financing in Africa needs innovation and anticipatory insurance could boost risk management and mitigate the impact of crises like drought.