ICEYE unveils strategic collaboration with Fermat Capital

ICEYE, a satellite company that provides the risk transfer industry with data and solutions, has unveiled a strategic collaboration with  Fermat Capital Management, one of the largest investment managers in the insurance-linked securities (ILS) sector.

Under the terms of the deal, ICEYE will provide Fermat with near real-time flood hazard data and support research and development into other natural perils.

This will include information on flood extent and flood depth at the building level. ICEYE’s ability to provide granular hazard and damage data through the world’s largest SAR satellite constellation and various auxiliary sources will also support the exploration of new potential use cases, including wildfire-related events.

“ ICEYE has established a proposition that is unique in the market. Its SAR satellite constellation and AI capabilities generate critical natural catastrophe intelligence in near real-time,” said John Seo, co-founder and managing director at Fermat.

“We are excited about the potential of this new relationship. It enables us to provide our investor clients with additional insights. Just as importantly, it creates significant opportunities to broaden the private re/insurance and ILS market’s role in enhancing resilience to climate shocks.”

Rafal Modrzewski (pictured), CEO and Co-founder of ICEYE, added: “Our alliance with Fermat, a pioneer of insurance-linked securities, marks our entrance into this highly dynamic and expanding marketplace,” he said. “ Fermat has been at the center of the ILS sector since its inception, and through our collaboration, we aim to facilitate the continued evolution of this market by enabling a deeper understanding of natural catastrophes.”

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