Ralph Renner has joined as partner and head of origination at Parameter Climate, the full-service parametric climate underwriting, advisory and distribution firm that is part-owned by Bermudian-headquartered global re/insurer SiriusPoint Ltd.

SiriusPoint entered into a strategic partnership with Parameter Climate in October. As part of the transaction, SiriusPoint purchased a significant ownership stake in Parameter Climate, in addition to providing multiyear capacity and paper.

Parameter said Mr Renner, based in London, would be responsible for the buildout and management of the company’s distribution of structured financial products to buyers and brokers in the burgeoning market for climate risk transfer.

Mr Renner said: “We believe that corporations and public entities will be compelled to go beyond disclosing their climate-driven exposures, ultimately being mandated to actively manage these risks with customised solutions.

“Structuring, underwriting and distributing these solutions requires a unique skill set which our team at Parameter Climate has developed through decades of market leadership, strongly positioning us to be impactful in the continued growth of climate risk transfer.”

Martin Malinow, chief executive officer of Parameter Climate, said: “We are thrilled to have Ralph join as part of our founding team.

“His extensive experience, relationships and market knowledge will allow the company to engage and serve clients across many different industries, initially focused on energy but rapidly expanding into other verticals impacted by climate.”

The company said Mr Renner has been focused on climate risk management for the past decade. He spent the earlier part of his career trading European energy for banks, utilities and merchants.