Howden has announced the creation of Howden Climate Parametrics, a global practice that brings together re/insurance, climate and data expertise to focus parametric risk transfer solutions on meeting the escalating demand for sector-wide climate de-risking capabilities.

A team of 30 specialists from across Howden and the group’s underwriting business will bring together their expertise, partnerships, data, analytics and modelling resources to drive technical innovations across resilience and decarbonisation, combining the power of the reinsurance and capital markets to create parametric products that build resilience to multiple hazards.

Co-chairs Philipp Kusche, global head of insurance linked securities, Howden Tiger in New York, and Rowan Douglas CBE, the recently appointed CEO of Howden’s Climate Risk and Resilience team, based in London will co-lead the practice. Stuart Martin, parametric solutions lead in the Howden Climate Risk and Resilience Hub will coordinate the practice.

Rowan Douglas, CEO, climate risk and resilience, Howden said: “The curiosity and excitement surrounding parametrics as part of the climate solution, was palpable at New York Climate Week in September. From infrastructure to agriculture, urban resilience to mangroves, through to the carbon markets, everyone wants to learn more, but this wider curiosity is often matched by confusion. It is a new area for many in the climate mainstream with strange jargon and different concepts. Howden has made a pioneering move to combine its climate, parametrics and sector expertise into a unified global practice. As part of our client commitment to de-risk their resilience to climate change and low carbon futures, Howden Climate Parametrics will demystify the concept of parametrics and deliver solutions to protect assets, lives and livelihoods.”

Philipp Kusche, global head of ILS, Howden Tiger added: “Howden is scaling up and enhancing its capabilities to lead the market response to climate change. Our strong presence at the Monte Carlo Rendezvous and New York Climate Week this year symbolises our ability to deliver across the value chain and fulfil the structural demand for more resilience and financial solutions to the greatest challenges created by climate change and the net zero transition. Our collective approach and our rapidly expanding Climate Risk and Resilience practice, creates a powerhouse of parametric potential that we look forward to deploying to serve our clients and to build this vital market with our carrier partners.”

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