African Risk Capacity Limited (ARC Ltd) has appointed David Maslo as chief executive officer, as the development-focused parametric insurer seeks to expand insurance and risk-financing solutions for climate and disaster-related shocks across Africa.
Maslo brings more than two decades of leadership experience in Africa and global insurance markets, with expertise in climate and disaster risk financing, institutional transformation and strategic growth.
ARC Ltd provides insurance and financing solutions for natural disasters to African governments, eligible non-sovereign entities and development partners.
Maslo previously served as interim chief executive officer, where he oversaw a period of transformation that delivered the organisation’s strongest annual financial performance since inception.
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During his tenure, premium earnings reached a record high in 2025, while ARC expanded its multi-peril insurance offering through the launch of sovereign flood insurance. The organisation also introduced its Re-Takaful facility, advanced its relocation to Abidjan, Côte d’Ivoire, and strengthened its disaster risk financing portfolio.
ARC board chairperson Cecilia Akintomide said Maslo’s appointment would support the organisation’s efforts to close Africa’s protection gap and expand access to resilience financing.
“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.
She said ARC would continue scaling innovative risk-financing solutions to help countries respond to climate-related, health and other catastrophic risks.
Maslo said ARC had a critical role in helping African governments and development partners prepare for disasters before they escalate into humanitarian crises.
“It is an honour to lead African Risk Capacity Ltd at this important moment in Africa’s economic development,” Maslo said.
He said the organisation would work with the African Union, development partners, shareholders and other stakeholders to expand risk-financing solutions and strengthen resilience across the continent.
“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,” Maslo said.
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.
ARC said Maslo would lead efforts to accelerate its transformation and strengthen its role as a provider of insurance and risk-financing solutions aimed at protecting lives, livelihoods and economic development.
Zimbabwe became a member of ARC in 2012. In 2024, the country received US$31,8 million from ARC to help mitigate the impact of the devastating El Niño-induced drought.
