Parameter Climate buys out seed investor SiriusPoint
Parameter Climate, the climate risk advisory, distribution and analytics firm, has completed a management buyout of its seed investor, SiriusPoint, two years after its launch in October 2021.
SiriusPoint will continue to support Parameter Climate with underwriting capacity.
“We thank SiriusPoint for its significant contributions to our launch two years ago and look forward to continuing to provide underwriting advisory to SiriusPoint and others,” said Martin Malinow, Founder and CEO of Parameter Climate.
Scott Egan, CEO, SiriusPoint, commented: “SiriusPoint is pleased to have contributed to the creation of Parameter Climate, which addresses an important protection gap in the climate and weather risk management market. While this transaction is consistent with our strategy to reduce our equity investments in programs and MGAs, we look forward to continuing to support Parameter Climate with underwriting capacity based on its strong underwriting results to date.”
Malinow added: “Our dialogues with both existing and new clients in a variety of industries illustrate a significant and growing need for climate and weather risk management, yet there remains a gap in advisory, intermediation and analytics. We created ClimateDelta to streamline the process of risk assessment, structuring and transaction management for both buyers and sellers, and look forward to using our 20+ years of market expertise to turn this need into transactions.”
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