Gallagher Re hires Bavandi for Public Sector, Parametrics & Climate Resilience

Gallagher Re, the reinsurance broking arm of the broader Gallagher group, has announced the hiring of Antoine Bavandi who joins the company from the World Bank to lead a new practice focused on the public sector, parametric risk transfer & climate resilience solutions.

Bavandi takes the role of Global Head of Public Sector, Parametric & Climate Resilience Solutions, at Gallagher Re, effective immediately.

He will be based in London for the reinsurance broker and report to Printhan Sothinathan, CEO Global Analytics and Advisory.

The company said Bavandi will lead a newly formed Public Sector & Climate Resilience Solutions global practice, using his extensive experience in advising both public and private sector institutions to help the broker develop new client opportunities.

This will involve working in close partnership with existing public/private solutions teams at Gallagher Re and regional specialists located around the world, the broker said.

Bavandi has over 17 years of experience and joins Gallagher Re from a role working as a senior climate & disaster risk finance specialist at The World Bank.

At the World Bank, Bavandi worked to advise governments, insurance and banking sector clients on the financial risk management of climate and catastrophe events, using an analytics-driven approach to risk transfer strategies and derivative products.

This likely put him into positions that would have included working on World Bank projects where insurance-linked securities (ILS) instruments were used, or ILS fund and investor capital deployed to support the reinsurance needs of such risk transfer arrangements.

Before the World Bank, Bavandi worked at insurers ArgoGlobal and Allianz Global Corporate & Specialty as a catastrophe risk portfolio manager and class underwriter.

Printhan Sothinathan, CEO Global Analytics and Advisory, Gallagher Re commented on the hire, “The addition of Antoine to our growing and talented team is an exciting strategic development for Gallagher Re. 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 inter-connected world. Antoine is the ideal person to lead our newly established practice and we are delighted to welcome him into our expanding team.”

Gallagher Re’s newly launched Public Sector & Climate Resilience Solutions global practice will work closely with the Global Climate and ESG Analytics and Advisory function, led by Ed Messer.

It will work with clients to help manage and reduce the financial impact of climate and disaster risks on governments, (re)insurers, banks and businesses worldwide.

There will be a focus on promoting financial preparedness, de-risking strategies, and leveraging established and innovative risk management tools, including weather derivatives and parametric products, to help in transferring risks.