Reask secures investment from BlueOrchard’s InsuResilience private equity fund

Reask is proud to announce the successful completion of a USD 4 million funding round, led by the InsuResilience Investment Fund Private Equity II (IIF II), managed by BlueOrchard Finance Ltd. This investment represents a significant step in Reask’s mission to provide accurate and actionable extreme weather risk data to businesses, governments, and communities around the globe. 

As a pioneer in the field of extreme weather risk modeling, Reask specializes in delivering precise, event-driven data on tropical cyclones, with plans to expand into other perils. Our proprietary datasets are grounded in dynamic climate physics, offering a level of granularity and global coverage that surpasses traditional, regionally focused models. This enables our clients—ranging from insurance companies and asset managers to governmental organizations—to more effectively manage their exposure to catastrophe risks, improving decision-making and driving greater climate resilience. 

2024 saw insured losses from natural catastrophes reach a staggering USD 135 billion, a sharp increase from previous years. The growing impact of climate change, coupled with the lack of high-quality catastrophe data, has left many organizations struggling to make informed decisions. At Reask, we address these challenges head-on, providing data solutions that allow our clients to accurately price premiums, assess climate risks, and develop parametric insurance products, particularly in vulnerable regions prone to hurricanes and other extreme weather events. 

“We are excited to partner with BlueOrchard, a leading impact investor with deep expertise in the insurance sector,” said Jamie Rodney, CEO of Reask. “Their support will empower us to accelerate our growth, further refine our product offerings, and enhance the financial resilience of populations that need it the most. BlueOrchard’s investment aligns perfectly with our vision to make extreme weather risks manageable, accessible to all, and actionable anywhere, anytime.” 

BlueOrchard’s investment is part of its InsuResilience Private Equity strategy, which focuses on leveraging technology to expand access to affordable climate insurance solutions. The strategy emphasizes the importance of public-private partnerships in addressing the climate crisis, and Reask is excited to be part of this initiative. The collaboration will enable us to scale our efforts, reach new markets, and further integrate climate risk data into the fabric of insurance and financial services. 

Ernesto Costa, Senior Investment Director at BlueOrchard, shared his thoughts on the partnership: “Reask’s innovative and defensible data products have the potential to transform the climate insurance landscape. Their work is directly aligned with our strategy to build a more resilient world through accessible and affordable climate insurance solutions. We look forward to working closely with Reask’s leadership to help accelerate their impact.” 

This investment further strengthens Reask’s ability to deliver high-quality, actionable climate risk data at scale. We are excited about the future and the positive impact this partnership will have on vulnerable populations, insurers, and asset managers who are striving to navigate the increasingly complex world of climate risk.