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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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Wrma s annual meeting chicago june 2006 new sources of global risk the ethiopian example

WRMA’s Annual Meeting

Chicago June 2006

New Sources of Global Risk

The Ethiopian example

Salah DHOUIB


Wrma s annual meeting chicago june 2006 new sources of global risk the ethiopian example

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


Wrma s annual meeting chicago june 2006 new sources of global risk the ethiopian example

Frédéric Rauffet

Jean-Christophe Garaix

Françoise Bollotte

Salah Dhouib

A dedicated team at your entire disposal:

E-mail: weather@axa-re.com

Tel: + (33) 1 56 43 86 79

Fax: + (33) 1 56 43 93 70