02 ABOUT TH I S REPORT ABOUT THIS REPORT This 2023 Integrated Annual Report summarises our progress, impact, priorities, and outlook. It explains how we generate short-, medium- and long-term value while upholding best practices in commercial insurance and sustainable development. We have aimed to provide a focused overview of the past year alongside our strategy, operating context, and impact for all our stakeholders. Report Parameters This report covers ARC Ltd.’s operations and activities for the 2023 financial year ending 31 December. It concentrates onmaterial issues relating to our strategic direction, business model dynamics and external landscape. The report records our key activities and payouts over the last 12 months and reflects our foremost risks, goals, and highlights. Reporting Framework This integrated report aligns with the International Sustainability Standards Board’s requirements and principles. Our audited Annual Financial Statements comply with International Financial Reporting Standards (IFRS) and regulations set by the Bermuda Monetary Authority (BMA). Materiality We have disclosed all material issues in this report, outlined in this report. We judge a matter to be material if As an organisation dedicated to pioneering climate change risk solutions across Africa, transparency and accountability are core principles for African Risk Capacity Limited (ARC Ltd.). We combine traditional approaches to risk management (such as mitigation, disaster relief and quantification) with risk pooling and risk transfer to create sustainable, African-led strategies for managing extreme weather events, disasters, and disease outbreaks. it influences investment decisions, is relevant to partners and stakeholders, impacts strategic choices or could affect mandate delivery. We determined material issues by reviewing our Inclusive Growth Strategy; our Six Capitals; environmental, social and governance practices; and stakeholder feedback on their expectations and concerns. Forward-looking Statements This report contains forward-looking statements regarding our long-term strategy, financial projections, and operating backdrop. However, our dynamic environment means actual future performance could diverge from these statements. As unknown factors could emerge to shape results differently, the forward-looking statements have not been reviewed or assured by our auditors. We hold no obligation to update them publicly beyond this report’s date. Accountability ARC Ltd.’s executive leadership and reporting team take responsibility for producing this integrated report and financial statements under prevailing regulations and reporting principles, such as the International Sustainability Standards Board’s Integrated Reporting Framework. The Board of Directors and its audit, finance and risk subcommittee also affirm their accountability for ensuring report integrity.
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