Global reinsurance giant Munich Re has appointed experienced parametric and weather risk transfer executive Jack Faure as its new Head of Parametric NatCat Solutions.
Faure has been hired from his most recent position at Parameter Climate, an advisory firm focused on weather derivatives and parametric insurance.
His career began at Sompo International in 2016 as a reinsurance underwriter.
In 2018 Faure moved to the Sompo Global Weather division where he worked in portfolio management of a global book of weather derivatives and parametric risk transfer contracts.
In 2020, Faure moved to reinsurance broker TigerRisk, but then returned to the parametric space in 2021 with a move to Parameter Climate, the advisory founded by former Sompo Global Weather chief Marty Malinow.
Now, Faure is joining one of the largest reinsurance firms in the world in a key position to help it continue to expand its parametric risk transfer capabilities.
At Munich Re, Faure will be the Head of Parametric NatCat Solutions, according to a post he made on Linkedin, which will be a key role at the company as it looks to deploy more of its reinsurance and risk transfer capacity to support catastrophe and weather risks transferred on a parametric trigger basis.
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