15 July 2026 – African Risk Capacity Limited (ARC Ltd.), the insurance arm of the African Union’s disaster risk financing agency, has appointed David Maslo as its new Chief Executive Officer, signalling a fresh push to strengthen Africa’s resilience against climate shocks while accelerating the institution’s strategic relocation and expansion in West Africa.
The appointment comes at a pivotal moment for the continent as governments grapple with increasingly frequent droughts, floods, disease outbreaks and other climate-driven disasters that continue to strain national budgets and threaten food security. ARC Ltd, Africa’s first development-focused parametric insurer, has become a key financial backstop, enabling governments to access rapid payouts before disasters escalate into humanitarian crises.
Maslo assumes the role after serving as Interim Chief Executive Officer, during which he oversaw one of the strongest periods in the institution’s history.
Under his stewardship, ARC Ltd recorded its highest premium earnings since its establishment in 2025, expanded its portfolio with sovereign flood insurance, launched a Re-Takaful facility to widen access to Sharia-compliant risk protection, and advanced the relocation of the organisation’s headquarters to Abidjan, Côte d’Ivoire, strengthening its footprint in West Africa.
Board Chairperson Cecilia Akintomide said the appointment reflects the organisation’s determination to bridge Africa’s widening protection gap and extend financial protection to more governments and vulnerable communities facing escalating climate risks.
“ARC’s ambition is clear: to help close Africa’s protection gap, reach more countries and communities, and make resilience a shared reality on the continent,” Akintomide said.
“Under David’s leadership, I am confident that ARC Ltd. will continue to scale innovative risk-financing solutions, strengthen resilience to climate-related, health and other catastrophic risks, and support Africa’s wider sustainable development agenda.”
Maslo, who brings more than two decades of experience in Africa’s insurance industry and global disaster risk financing, said his immediate priority would be to strengthen partnerships with African governments, the African Union, shareholders and development institutions while expanding innovative insurance products that allow countries to respond faster and more effectively to emergencies.
“It is an honour to lead African Risk Capacity Ltd at this important moment in Africa’s economic development,” Maslo said.
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“ARC has a vital role in helping African governments and their partners anticipate, finance and respond to disasters before they become humanitarian crises.”
He added that the institution would focus on becoming “stronger, more agile and more impactful” by mobilising new partnerships, expanding access to protection and helping African countries prepare for future risks.
The leadership transition comes as Africa faces mounting climate uncertainty, with prolonged droughts, devastating floods, agricultural disruptions, public health emergencies including Ebola outbreaks, and growing pressure on public finances. Development economists increasingly argue that disaster risk financing is becoming as critical as traditional infrastructure investment, allowing governments to respond rapidly without diverting scarce re
Since its establishment, ARC Ltd. has insured more than 160 million people across Africa and paid out over US$240 million to support early response and recovery following natural disasters.
As the institution deepens its presence in West Africa and broadens its portfolio of innovative insurance solutions, industry analysts say its next phase of growth could strengthen the continent’s financial resilience against increasingly costly climate and disaster risks while reinforcing the African Union’s agenda for sustainable and inclusive development.
ARC Names David Maslo CEO as African Disaster Insurer Accelerates West Africa Expansion
ARC Ltd, Africa’s first development-focused parametric insurer, has become a key financial backstop, enabling governments to access rapid payouts before disasters escalate into humanitarian crises
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