Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has made another key hire, bringing onboard Brad Livingston, an executive with significant insurance-linked securities (ILS) market experience, as its new Head of Risk Capital Solutions.
Livingston joins Arbol after a period spent at private equity specialist Apollo Global where he worked to originate P&C opportunities for the investment group.
In his new role, as Senior Managing Director, Head of Risk Capital Solutions at Arbol, Livingston will bring his insurance-linked securities (ILS) structuring and execution expertise to the company.
He will lead Arbol’s efforts to bring innovative parametric insurance and reinsurance products for climate risks and natural catastrophe risks to capital market investors.
Capital market investors and ILS funds have always had a strong appetite for parametric risk structures, given they are often more predictable, they can be easier for portfolio management and diversification purposes, cleaner when it comes to triggering and payouts.
As a result, the appetite has always been strong for parametric ILS investment opportunities, but the supply has never satisfied this demand.
Companies like Arbol have specifically recognised this appetite and are working to supply more parametric risk to ILS investors, which is a positive development for the market.
Livingston began his career at reinsurance broker Guy Carpenter’s capital markets unit GC Securities from 2007 to 2013, working on ILS and catastrophe bond opportunities for its clients.
He then moved to Willis Towers Watson Securities in 2013, becoming a Vice President of Insurance-Linked Securities (ILS), developing and structuring property catastrophe reinsurance treaty opportunities for institutional investors for a period of four years.
Livingston moved to re/insurer AXIS Capital in 2017, working his way up to become Head of Third Party Capital there and leading on its ILS initiatives
Before moving back to Willis Towers Watson again in 2019, becoming a Director in the Willis Re Securities division where he continued his capital markets reinsurance and ILS structuring focus, before joining Apollo in 2021.
Hong Guo, EVP and Chief Insurance Officer, Arbol, commented on the news, “We are extremely pleased to have someone of Brad’s caliber and experience joining us at this pivotal moment in the P&C insurance industry.
“At Arbol, we bring data-driven insurance and reinsurance products to market leveraging our full ecosystem of tools encompassing data, AI powered digital pricing platforms, and dedicated risk capacity.
“I am confident that Brad will play a crucial role in our journey to drive innovation in product offerings, business model and capital usage.”
Brad Livingston added, “It is a great privilege to join Arbol in this period of tremendous growth and success for the company. Arbol continues to innovate in the (re)insurance industry by utilizing data and technology to offer innovative parametric (re)insurance solutions.
“I look forward to working with the team in expanding products and sources of capital to support increasingly complex weather and climate risks.”