MAPFRE invests in climate insurer Blue Marble

Core Insights - MAPFRE has joined Blue Marble, becoming the sixth member of a consortium focused on providing insurance solutions to underserved communities impacted by climate change [1] - The consortium includes notable members such as Aspen, Grupo ASSA, Marsh McLennan, TransRe, and Zurich Insurance Group, aiming to collaborate with various stakeholders to address climate change effects [1][3] - Blue Marble specializes in parametric insurance tools for emerging markets and has introduced insurance programs in 16 countries over the past decade [3][4] Company Developments - Blue Marble's proprietary platform enhances the scalability of its insurance tools, marking MAPFRE's membership as a significant milestone in the company's tenth anniversary year [2] - The CEO of Blue Marble emphasized that the addition of MAPFRE strengthens their ability to scale innovations and close protection gaps for vulnerable communities [3] - MAPFRE RE's CEO highlighted that joining Blue Marble aligns with the company's commitment to building resilience in communities facing significant climate risks [5] Strategic Partnerships - The consortium's collaborative approach is expected to leverage MAPFRE's technical knowledge and global presence to deliver innovative solutions where they are most needed [5] - In July, MAPFRE Re entered an agreement to license flood insights data from ICEYE, which is anticipated to enhance its capacity to respond to flood events [6]