Parameter Climate, the parametric risk transfer and climate focused underwriter launched by well-known industry executive Marty Malinow, has added some new hires, all of which have previously worked at Sompo International in its weather risk and parametric risk transfer operations.
Malinow himself previously worked at Sompo International, as the President of its Sompo Global Weather business unit.
Now, as he builds-out operations at his new start-up Parameter Climate, the hiring has begun and the first three to come to light are all former team-mates.
Jack Faure, who was most recently a reinsurance broker at TigerRisk Partners, has joined Parameter Climate as a Portfolio Manager.
Faure had previously been a Portfolio Manager at Sompo Global Weather, prior to which he underwrote reinsurance for Sompo International and before that Endurance.
Vivek Pawale has also joined Parameter Climate, taking on a Co-Head of Structuring and Analytics role, and moving straight over from his most recent position at Sompo International.
Pawale spent 16 years at Sompo International, focusing on weather derivatives and parametric insurance.
Pawale had also worked at another former shop of Malinow’s, Galileo Weather Risk Management. He has also held positions at Munich American Capital Markets and AIR Worldwide.
Another Parameter Climate new joiner we’ve learned of is Diana Lofaro, who has taken on the role of Head of Operations.
Lofaro was VP of Weather Operations at Sompo International for a decade and prior to that worked at reinsurance firm PartnerRe.
The final joiner with a Sompo heritage is Ling Yuan, who is the other Co-Head of Structuring and Analytics alongside Pawale.
Yuan had worked at Sompo International and Endurance in the Weather unit as a VP Quant Analytics since 2014, before which they worked at Constellation Energy.
The team Malinow is putting together have a history of working alongside one another in some of the most active weather and climate risk transfer units in the insurance and reinsurance industry.
Their understanding of the opportunity, the product set, how they work together as a team and as individuals, can only help Malinow in growing Parameter Climate more rapidly.