Reask and InsuResilience Investment Fund Collaboration
Reask, a specialist in climate and catastrophe risk assessment, has successfully completed a $4 million funding round. The funding was led by the InsuResilience Investment Fund Private Equity II (IIF II), managed by BlueOrchard Finance Ltd.
Innovative Data Solutions for Climate Risk Management
Reask is renowned for providing precise, event-driven data on tropical cyclones and plans to expand into other perils. Their proprietary datasets are based on dynamic climate physics, offering granularity and global coverage to help clients manage exposure effectively.
Addressing Growing Insured Losses
In 2024, insured losses from natural catastrophes reached $135 billion, and annual losses exceeding $100 billion have become the new norm for the industry. Reask aims to offer data solutions to accurately price premiums, assess climate risks, and develop parametric insurance products, especially in regions prone to hurricanes and extreme weather events.
BlueOrchard’s Investment and Strategy
BlueOrchard’s investment is part of its InsuResilience Private Equity strategy, focusing on leveraging technology to expand access to affordable climate insurance solutions. The firm emphasizes the importance of public-private partnerships in addressing the climate crisis.
Leadership Comments
Ernesto Costa, Senior Investment Director at BlueOrchard, commented, “Reask’s innovative and defensible data products have the potential to transform the climate insurance landscape. Their work aligns with our strategy to build a more resilient world through accessible and affordable climate insurance solutions.”
Jamie Rodney, Chief Executive Officer of Reask, added, “We are excited to partner with BlueOrchard, a leading impact investor with deep expertise in the insurance sector. Their support will empower us to accelerate our growth, refine our product offerings, and enhance the financial resilience of populations that need it the most.”
