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The Bermudian (re)insurer Endurance's acquisition of the assets of Galileo Weather Risk Management demonstrates the weather market's maturity, according to Galileo co-founder Martin Malinow.
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Bermudian specialty (re)insurer Endurance Specialty Holdings has bought Marty Malinow's Galileo Weather Risk Management, which it will use as the launch pad for a new weather trading unit, Endurance Global Weather.
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Johnson breaks with Tradition; $10mn IFEX hurricane trade; WRMA heads to Oz
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EDF Trading, a subsidiary of French energy giant EDF, has expanded its activities in the weather markets, EDF Trading's Weather Trader Michael Bate said at a CME Group Weather Symposium held in London yesterday (12 January).
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A survey for the Weather Risk Management Association (WRMA) has found that the Indian weather risk market for agriculture could reach $7bn over the next five years. According to the survey - conducted by Weather Risk Management Services India (WRMSI) - there is potential for a market with notional value of up to $20bn.
