Munich Re nabs Parhelion founder and CEO to lead green tech push
Munich Re Specialty Group, a part of global reinsurer Munich Re, has hired the chief executive officer (CEO) and founder of Parhelion Underwriting to join the leadership of its green solutions portfolio. The launch of Munich Re’s Green Solutions in May followed its departure from the net-zero industry alliance NZIA, with an ambitious goal to become a major player in the market for green commercial specialty and primary insurance risks by 2030.
Julian Richardson (pictured) has joined Munich Re Specialty Group as chief underwriting officer of Green Solutions portfolio.
Richardson founded Parhelion Underwriting, an energy and climate risk finance company, in 2006. Parhelion specialises in supporting clients venture into renewable energy, carbon markets and climate compatible investment opportunities.
Munich Re said Richardson has extensive experience in developing risk transfer products for associated climate and sustainability sectors and has worked with investors, policy makers, multilateral development finance organisations and the wider re/insurance industry. Previously, he served at Marsh and GE Insurance Solutions and was an advisor to the UK Government Department for International Trade on insurance and resilience finance.
John Wilkinson, Munich Re Specialty Group CEO, said: “We are pleased to welcome Julian to Munich Re. His high standing among industry peers makes him the ideal candidate to accelerate the growth of our Green Solutions portfolio.”
He added: “Green Solutions has a decidedly ambitious target to capture a leading market share of green commercial specialty and primary insurance risks by 2030. Through Julian’s leadership of the portfolio, combined with our Munich Re track record, I am confident we will deliver the insurance services needed to support and have a meaningful impact on the transition to a net zero economy.”
Richardson said: “Munich Re Specialty Group has shown incredible commitment to taking real action on climate. Green Solutions is a bold and important proposition for the speciality risk market, and is exactly what I have been championing for the last two decades. I am excited to be integrating the wide-ranging sector knowledge and expertise gained from Parhelion to Munich Re’s world leading platform. In my new role as Chief Underwriting Officer for the Green Solutions portfolio, I am determined to build on my mission of enabling the green transition, as well as continuing to increase the awareness of the insurance industry’s vital role in building a sustainable and resilient world.”
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