Gallagher Re launches climate resilience practice under World Bank leader

Global reinsurance broker  Gallagher Re has launched a new public sector & climate resilience solutions global practice under the leadership of a World Bank specialist with over 17 years of industry experience gained at Argo and Allianz Group.

Antoine Bavandi (pictured) joins the broker from the World Bank in the newly created role of global head of public sector, parametric & climate resilience solutions.

Based in London, UK, Bavandi will report to Printhan Sothinathan, CEO global analytics and advisory,  Gallagher Re and work in close partnership with existing public/private solutions teams and regional specialists located around the world.

Bavandi joins  Gallagher Re from his most recent position as senior climate & disaster risk finance specialist at The World Bank. In his previous role, he was responsible for advising governments, insurance and banking sector clients on the financial risk management of climate and catastrophe events through an analytics-driven approach to risk transfer strategies and derivative products.

Prior to that, Bavandi worked at ArgoGlobal and Allianz Global Corporate & Specialty as a catastrophe risk portfolio manager and class underwriter. He has extensive experience of working across both public and private sectors with a focus on transactions, strategic and analytical advisory.

Bavandi will lead  Gallagher Re's newly established practice with responsibility for developing its core offering globally and driving profitability as well as developmental impact. The new practice will work closely with the Global Climate and ESG Analytics and Advisory function, led by Ed Messer.

The practice will help to manage and reduce the financial impact of climate and disaster risks on governments, (re)insurers, banks and businesses worldwide,  Gallagher said. Its focus will be on promoting financial preparedness, de-risking strategies, and leveraging established and innovative risk management tools, including through weather derivatives and parametric products. The practice will also look to provide comprehensive climate resilience and adaptation solutions, working alongside advanced and emerging economies to accelerate the shift towards a more sustainable development.

Printhan Sothinathan, CEO Global Analytics and Advisory,  Gallagher Re said: “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.”

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