International speciality insurer and reinsurer SiriusPoint has partnered with Parameter Climate, a climate underwriting and distribution advisory company. SiriusPoint underwrites insurance and reinsurance solutions across the lines of property, environment, energy, accident and health, and workers’ compensation. The firm also provides services for insurtechs and managing general agents, such as fronting services, risk capital, pricing, underwriting and capital raise. Parameter Climate provides advisory, structured financial products, distribution and underwriting services to digitalise and scale the developing climate risk transfer market. The increasing importance of ESG risk calculation, disclosure and management within a company means it is of growing significance priority for firms to engage with the parametric climate risk market. Under the strategic partnership, SiriusPoint has purchased a significant ownership stake in Parameter Climate and will provide multi-year capacity and paper. Martin Malinow, founder and CEO of Parameter Climate, comments: “We are excited to partner with SiriusPoint on this opportunity — they bring the balance sheet capacity and financial resources for Parameter Climate to provide underwriting and distribution leadership to the growing climate market.” Sid Sankaran, CEO of SiriusPoint, adds: “With this partnership, SiriusPoint is investing in human expertise and data-driven technology solutions to enable the transfer of climate risk to the insurance and capital markets.” “Parameter Climate’s approach and their highly-experienced parametric team are providing a solution for the ‘E’ in ESG. We are delighted to be a part of that vision,” he continues.
