Pikine, Senegal’s second-largest city with more than 750,000 inhabitants, has signed a parametric insurance contract against excessive rainfall, structured by AXA Climate, and insured by a consortium of Senegalese insurers, AXA Sénégal, ASKIA Assurances, and SUNU Assurances, reinsured by African Risk Capacity (ARC) Ltd. Rainfall will reportedly be measured by weather stations installed in the city and managed by Senegal’s National Meteorological Agency. AXA commented, “This collaboration, guided by Pikine’s needs, was a great pleasure and a source of much learning. “In Senegal, we’re delighted to have co-developed and launched a ground-sensor-based parametric urban flood product in collaboration with AXA Climate, ASKIA ASSURANCES and SUNU Assurances. “This complements the sovereign riverine flood parametric product launched this month in Madagascar, extending coverage across distinct flood typologies, from urban pluvial risk at the municipal level to riverine risk at the sovereign level.”