Liberty Syndicates Management Ltd., a member of the Liberty Mutual Group, has announced that it is to enter the weather and agricultural reinsurance markets after a new team of specialist underwriters were hired for that purpose.
One of the new underwriters is Jean-Christophe Garaix who is well known in the weather insurance and microinsurance sectors for his work while at Axa on a project involving the World Food Programme to provide drought insurance to Ethiopian farmers. Garaix is taking up the role of Class Underwriter and will head up this line of business for Liberty Syndicates.
The new team will operate from Liberty Syndicates’ Paris office and will underwrite weather and agricultural reinsurance on a worldwide basis including North America, Latin America and Asia.
It’s good to see that Liberty Syndicates have recognised the opportunity that is emerging for reinsurers to enter these markets especially within developing countries. Liberty Syndicates’ Chief Underwriting Office Matthew Moore said: “The team is highly-skilled and experienced in the area of agricultural and weather reinsurance and their specialist knowledge is a strong addition to the syndicate. With both the agricultural and weather reinsurance markets taking hold in developing economies, we see good opportunities for continued growth in this line of business.”