Gallagher Re boosts climate resilience offering with new practice

Gallagher Re boosts climate resilience offering with new practice | Insurance Business Canada

Gallagher Re boosts climate resilience offering with new practice

Global reinsurance broker Gallagher Re has announced the appointment of Antoine Bavandi to the newly created role of global head of public sector, Parametric & Climate Solutions.

Bavandi will be based in London and will report to Printhan Sothinathan, CEO of Global Analytics and Advisory for Gallagher Re. he will work in partnership with existing public/private solutions teams and regional specialists around the world.

Bavandi has more than 17 years of industry experience. Prior to joining Gallagher Re, he served as senior climate and disaster risk finance specialist at The World Bank. He has also worked at AgoGlobal and Allianz Global Corporate & Specialty as a catastrophe risk portfolio manager and class underwriter.

In his new role, Bavandi will lead Gallagher Re’s newly established Public Sector & Climate Resilience Solutions practice, with responsibility for developing the company’s core offering globally and driving profitability and developmental impact. The new practice will work closely with Gallagher Re’s Global Climate and ESG Analytics and Advisory function.

The practice will help to manage and reduce the financial impact of climate and disaster risks on governments, insurers and reinsurers, banks and businesses worldwide. It will focus on promoting financial preparedness, de-risking strategies, and making use of established and innovative risk management tools, including through weather derivatives and parametric products.

“The addition of Antoine to our growing and talented team is an exciting strategic development for Gallagher Re,” Sothinathan said. “His complementary expertise, client focus and analytical, forward-thinking approach will be a huge asset to our business. Antoine’s extensive experience in working across both the public and private sector spheres will be invaluable in helping our clients navigate complex challenges, including climate and other systemic risks in an increasingly interconnected world. Antoine is the ideal person to lead our newly established practice, and we are delighted to welcome him into our expanding team.”