Reask Secures $4 Million Investment from InsuResilience Fund
Reask, a leader in climate and catastrophe risk evaluation, has successfully closed a $4 million funding round. This significant investment was spearheaded by the InsuResilience Investment Fund Private Equity II (IIF II), which is managed by BlueOrchard Finance Ltd.
Expanding Expertise in Climate Risk Data
Specializing in high-precision, event-driven data concerning tropical cyclones, Reask is now poised to branch out into other natural hazards. Their proprietary datasets, grounded in dynamic climate physics, furnish comprehensive granularity and global reach, enabling clients to manage their exposure with heightened accuracy.
Addressing the Surge in Catastrophic Losses
In 2024, insured losses from natural calamities were reported at $135 billion, and the industry now faces a new norm with annual losses exceeding $100 billion. Reask is committed to providing data solutions that support accurate premium pricing, climate risk evaluation, and the development of parametric insurance products, especially in regions vulnerable to hurricanes and other severe weather phenomena.
BlueOrchard’s Strategic Investment
BlueOrchard’s investment aligns with its InsuResilience Private Equity strategy, which leverages technology to broaden access to affordable climate insurance solutions. This strategy highlights the crucial role of public-private partnerships in tackling the climate crisis.
Ernesto Costa, Senior Investment Director at BlueOrchard, remarked, “Reask’s innovative and defensible data products have the potential to transform the climate insurance landscape. Their work is directly aligned with our strategy to build a more resilient world through accessible and affordable climate insurance solutions. We look forward to working closely with Reask’s leadership to help accelerate their impact.”
Looking Towards a Resilient Future
Jamie Rodney, CEO of Reask, commented, “We are thrilled to partner with BlueOrchard, a leading impact investor with deep expertise in the insurance sector. Their support will empower us to accelerate our growth, further refine our product offerings, and enhance the financial resilience of populations that need it the most. BlueOrchard’s investment aligns perfectly with our vision to make extreme weather risks manageable, accessible to all, and actionable anywhere, anytime.”
