David Maslo appointed CEO of African Risk Capacity Ltd – to drive climate resilience across Africa

MOSA MAOENG

MASERU – In a significant development for Africa’s disaster risk management landscape, the African Risk Capacity Limited (ARC Ltd.) has appointed David Maslo as its new Chief Executive Officer. The appointment comes at a critical juncture as the continent grapples with escalating climate-related challenges and seeks innovative solutions to protect vulnerable communities.

ARC Ltd., established as Africa’s first development-focused parametric insurer, provides risk insurance and financing solutions for natural disasters to African governments, eligible non-sovereign entities, and development partners. The organisation operates as the insurance arm of the ARC Group, a specialised institution of the African Union, positioning it at the forefront of the continent’s efforts to build resilience against climate shocks.

Maslo brings over two decades of senior leadership experience spanning Africa’s insurance sectors and global markets. His extensive background in climate and disaster risk financing across Africa and the Caribbean, combined with a demonstrated track record in institutional transformation and strategic growth, positions him uniquely to lead the organisation through its next phase of development.

Most recently serving as Interim Chief Executive Officer, Maslo has already demonstrated his capability by steering the organisation through a significant transformation period. Under his interim leadership, ARC Ltd. achieved its strongest annual financial performance since inception, with premium earnings reaching record levels in 2025.

During his interim tenure, Maslo oversaw several landmark achievements that have strengthened ARC Ltd’s position as Africa’s premier disaster risk financing provider. The organisation successfully expanded its multi-peril offering with the introduction of sovereign flood insurance, launched its innovative Re-Takaful facility, and accelerated the organisation’s relocation to Abidjan, Côte d’Ivoire.

These developments represent a significant evolution in ARC Ltd’s capacity to serve African nations facing diverse and increasingly severe climate-related threats. The expansion of insurance products reflects the organisation’s commitment to addressing the continent’s growing protection gap – the difference between economic losses from disasters and the amount covered by insurance.

Lesotho has emerged as an active and committed member state of the ARC Group, having signed the establishment agreement in December 2019 as the 34th member state before subsequently ratifying the treaty. The country has deepened its integration and leadership within the continental disaster-risk organisation through several key milestones, including high-level continental leadership, multi-million Dollar drought insurance payouts, and financial and policy commitments.

Lesotho’s engagement with ARC Ltd. exemplifies the growing recognition among African nations of the importance of proactive disaster risk management. The country’s experience with drought insurance payouts has demonstrated the tangible benefits of parametric insurance in providing rapid financial support during times of crisis.

Announcing the appointment, Cecilia Akintomide, Chairperson of the Board of Directors of ARC Ltd., expressed strong confidence in Maslo’s leadership.

“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 stated.

“Under David’s leadership, I am confident that ARC Ltd. will continue to scale innovative risk-financing solutions. It will also strengthen the continent’s resilience to climate-related, health, and other catastrophic risks, and support Africa’s wider sustainable development agenda,” she added.

Commenting on his appointment, Maslo articulated a clear vision for ARC Ltd’s future direction.

“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,” he said.

Maslo emphasised his commitment to collaboration with key stakeholders, including the African Union, development partners, shareholders, and the ARC team.

“I look forward to working closely with the African Union, our development and other partners, shareholders and the ARC team to deliver ARC’s mandate in support of African countries. At the same time, we will advance our transformation strategy, expand innovative risk-financing solutions and strengthen resilience across Africa,” he stated.

Outlining his priorities, Maslo highlighted the organisation’s focus on building a stronger, more agile, and more impactful institution.

“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,” he explained.

The appointment comes at a defining moment for Africa, as the continent faces increasing exposure to climate-related shocks, agriculture and food security challenges, public health emergencies such as Ebola, and other catastrophic risks. These multifaceted challenges demand innovative financing solutions that can provide rapid support when disasters strike.

ARC Ltd. has established itself as a vital institution in Africa’s disaster risk management architecture. Since its inception, the organisation has provided coverage for more than 160 million people across the continent and has disbursed over US$240 million in payouts to support early action and recovery. These figures underscore the tangible impact of ARC Ltd’s work in protecting lives, livelihoods, and economic progress across Africa.

Under Maslo’s leadership, ARC Ltd. will seek to accelerate its transformation, deepen its role as a trusted development partner, and support governments and eligible entities with innovative insurance and risk-financing solutions. The organisation’s relocation to Abidjan represents a significant step in strengthening its presence and operational capacity on the continent.

As African nations continue to grapple with the impacts of climate change and other catastrophic risks, the role of institutions like ARC Ltd. becomes increasingly critical.

Maslo’s appointment signals a continued commitment to innovation, expansion, and partnership in building resilience across the continent.

The organisation’s focus on parametric insurance – which provides predetermined payouts based on specific triggers rather than assessed losses – offers a rapid and efficient mechanism for delivering financial support when disasters occur. This approach enables governments to respond quickly to emergencies, protecting vulnerable communities and maintaining economic stability.

Maslo’s extensive experience in institutional transformation and risk-financing innovation positions him well to lead ARC Ltd. through its next chapter. His track record of delivering results during his interim tenure provides confidence in the organisation’s ability to achieve its ambitious goals for expanding access to protection and strengthening resilience across Africa.