African Risk Capacity Limited, Africa’s first development-focused parametric insurer, has appointed David Maslo as its permanent Chief Executive Officer, converting his interim role into a full appointment after he successfully led the firm through a period of significant transformation.
The Board of ARC Ltd. appointed Maslo as Interim CEO in June 2025, following his tenure as Chief Risk Management Officer at the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company, where he had managed disaster risk insurance for 30 member countries across the Caribbean and Central America. His return to ARC Ltd. brought with it a track record that the board found compelling enough to make permanent.
During his tenure as Interim CEO, Maslo led the company through a significant period of transformation as it achieved its strongest annual financial performance since inception, with premium earnings hitting a record high last year. Under his leadership, ARC Ltd. also expanded its multi-peril offering to include sovereign flood insurance, and launched its Re-Takaful facility.
The sovereign flood insurance expansion is among the most significant milestones of Maslo’s interim tenure. ARC Ltd. underwritten its first sovereign parametric flood insurance policy for the Republic of Madagascar in January 2026, expanding protection options available to African nation clients. Since its launch in 2014, ARC Ltd. has now issued more than 300 sovereign insurance policies, covering droughts, tropical cyclones and epidemics, and paid out over $250 million in claims against them.
Maslo framed the flood product in terms of what it represents for the continent’s climate resilience architecture: “Flood risk is one of the most complex hazards to model. After several years of dedicated research and investment, we are pleased to launch this parametric flood insurance solution, built on the most advanced flood risk model and tailored to the specific particularities of African countries. This is only the beginning: we will roll out this solution across our Member States and continue expanding our portfolio to address additional climate risks in line with their evolving needs.”
Under his permanent leadership, ARC Ltd. states that it will work to accelerate its transformation and deepen its role as a trusted development partner, looking to support governments and eligible entities with insurance and risk-financing solutions.
Maslo was direct about what he intends to build: “It is an honour to lead African Risk Capacity Ltd at this important moment in Africa’s economic development. ARC has a vital role in helping African governments and their partners anticipate, finance and respond to disasters before they become humanitarian crises. Our focus will be on building a stronger, more agile and more impactful ARC Ltd. We will deepen trust, expand access to protection, mobilise new partnerships and help ensure that African countries are better prepared for the risks of tomorrow.”
The appointment comes as African countries face growing exposure to climate-related shocks, agricultural and food security challenges, public health emergencies and other catastrophic risks. With extreme weather events costing the continent more than $3.6 billion in projected economic losses and 377 lives to the ongoing Ebola outbreak alone in 2026, the need for pre-arranged, rapid-disbursement risk financing has never been more evident.
Zimbabwe became a member of ARC in 2012. In 2024, the country received $31.8 million from ARC to help mitigate the impact of the devastating El Niño-induced drought, a concrete example of what the institution is built to deliver and what Maslo’s permanent appointment is intended to scale.
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