Gallagher Re invests in climate risk resilience

Gallagher Re has appointed Antoine Bavandi to the newly created role of global head of Public Sector, Parametric & Climate Resilience Solutions, effective immediately. 

Antoine Bavandi joins from the World Bank to lead the newly established Public Sector & Climate Resilience Solutions global practice bringing extensive experience in advising both public and private sector institutions.

Based in London, he 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 brings more than 17 years of experience and 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 this, 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.

He will have responsibility for developing Gallagher Re’s 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.

Gallagher Re claimed the practice will help to manage and reduce the financial impact of climate and disaster risks on governments, (re)insurers, banks and businesses worldwide. 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 provide comprehensive climate resilience and adaptation solutions, working alongside advanced and emerging economies to accelerate the shift towards a more sustainable development.

Sothinathan 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.”