Weather markets continue to heat up

Climate-related adverse weather and macroeconomic conditions kept demand high for weather risk transfer products, this year’s Environmental Finance Market Rankings winners tell Annabelle Palmer

While an increase in natural disaster events over the previous decades has spurred interest in hedging against weather risk, the greater demand for weather derivatives was this year heightened by macroeconomic factors, principally inflation, say market participants.

David Whitehead, co-CEO of Speedwell Climate, says the climate risk industry, “is busier than it’s ever been”.

The firm – which has won the award for Best advisory/data service – Global for the seventh year in a row – rebranded from Speedwell Weather to Speedwell Climate in June.

“This is in light of the fact that the industry has gone beyond just talking about weather, and new…