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Arbol hires Hector Ibarra from Global Parametrics

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Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has announced the hiring of Hector Ibarra as its new Vice Chairman of Latin America (LATAM).

hector-ibarra-arbol-parametricIbarra is well-known in the parametric and sovereign disaster risk transfer sectors, having worked for over two decades to bring responsive and efficient risk transfer to clients and countries around the world.

Most recently, Ibarra worked as the CEO of Global Parametrics, a parametric risk transfer specialist with a strong focus on climate science, meteorology and financial engineering, creating products to understand, manage and mitigate the risks of extreme weather and natural disasters.

In his time at Global Parametrics, Ibarra also served as the Portfolio Manager of the Natural Disaster Fund (NDF), which has been positioned as a pool of risk operating like an insurance-linked securities (ILS) fund that has an ESG focus.

“We are thrilled to welcome a colleague who has such extensive knowledge in disaster risk financing, insurance-linked securities, parametric insurance and more specific skills critical to the success of our company,” Sid Jha, founder and CEO of Arbol commented. “Hector’s international experience in leading ESG fund managers, financial intermediaries and multilateral agencies will be pivotal to our growth as we expand into new verticals and markets.”

Earlier in his career, Ibarra served as a Lead Financial Officer at the World Bank, where he worked on over $1 billion of disaster risk financing products in his time.

Previously, Ibarra also served as Assistant Vice President, Insurance-Linked Securities (ILS) at reinsurance firm PartnerRe.

“I’m excited to join a company that is paving the way for the future of impactful parametric insurance on a global scale,” Ibarra said. “As the world grapples with emerging climate risks and market pressures, businesses need to remain resilient. Arbol’s parametric products and climate risk solutions have made massive headway on this front, and I look forward to driving operations for the company in LATAM.”

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