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WRMA’s Annual Meeting Chicago June 2006 New Sources of Global Risk The Ethiopian example

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WRMA’s Annual Meeting Chicago June 2006 New Sources of Global Risk The Ethiopian example. Salah DHOUIB. AXA Re’s perspective. The Ethiopian deal particularities:. TABLE. Data and structure The counter party The “humanitarian” aspect. A. Data.

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Presentation Transcript
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WRMA’s Annual Meeting

Chicago June 2006

New Sources of Global Risk

The Ethiopian example

Salah DHOUIB

slide2

AXA Re’s perspective

The Ethiopian deal particularities:

TABLE

Data and structure

The counter party

The “humanitarian” aspect

a data
A. Data
  • Data availability and quality is a big issue in developing countries:
  • Few historical records,
  • Poor quality
  • Lack of transparency
  • EarthSat/RMS involvement was essential
a structure
A. Structure
  • Weather hedge for agriculture is very complex. Index is:
  • Multi-station
  • Multi-period
  • Multi-crop
  • + Greater diversification
  • - No hedging
b the counter party
B. The Counter-Party
  • The WFP as an international organization:
  • Doesn’t accept the jurisdiction of any country
  • Has a “complicated” chain of command and a lot of internal procedures
  • The legal aspects of the contract were very time consuming
c the humanitarian aspect
C. The humanitarian aspect
  • The deal is very sensitive and appealing to a very large public:
  • Ethiopia is the a very symbolic country when we talk about famine and humanitarian aid
  • We had an impressive media coverage
  • + May be seen as an intelligent way to help people
  • - May be seen as a waste of much needed money
c the humanitarian aspect1
C. The humanitarian aspect
  • Danger of the “basic” risk in terms of PR:
  • Having a famine in Ethiopia without having to pay
  • To be seen as exploiting people’s distress
d conclusion
D. Conclusion
  • A deal AXA Re is really proud about
  • A great example to be followed in other countries
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Frédéric Rauffet

Jean-Christophe Garaix

Françoise Bollotte

Salah Dhouib

A dedicated team at your entire disposal:

E-mail: [email protected]

Tel: + (33) 1 56 43 86 79

Fax: + (33) 1 56 43 93 70

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