Cyclone Batsirai in Madagascar: African Risk Capacity pays 10.7 million USD in compensation

After crossing both islands of the Indian Ocean (Reunion and Mauritius), the tropical cyclone Batsirai hit Madagascar hard on 5 February 2022. The disaster caused 121 deaths, displaced 61 500 people, destroyed 19 000 homes and 4 500 classrooms.

African Risk Capacity (ARC) has agreed to pay 10.7 million USD in compensation to help the Malagasy government and its citizens.

For the record, ARC has developed a parametric insurance product against tropical cyclones in East Africa in late 2020.

Created in 2012 by the African Union, ARC is a specialized agency whose mission is to help member states mitigate the effects of extreme climate events.