Inver Re, the Bermudian-based global reinsurance broking arm of the Ardonagh Group, has launched an integrated global index practice, following the appointment of Tom Johansmeyer earlier this year.

Mr Johansmeyer joined Inver Re as global head of index from Verisk, where he led its property claim service.

During his seven-year tenure he oversaw the creation, expansion and adoption of loss indices, third-party data sources that trigger when a claim is paid out, the company said.

At Inver Re, he will be working closely with Kevin Stratton, Inver Re Bermuda CEO, Gareth Davies, managing director of parametrics based in London, and Chris Bonard, CEO of Ardonagh Specialty Holdings Bermuda, to bring together Inver’s capabilities across industry loss warranties, parametrics, analytics and modelling.

Mr Bonard said: “Global indices, like capital markets and other verticals, rounds out Inver Re’s offerings as a full-service broker, and Tom at the helm means we’ve got the best of the best, driving our delivery and growth.

“He literally invented many of the PCS indices still in use, and his in-depth knowledge of how loss reporting agencies work gives Inver Re a significant advantage for delivering the tightest ILW wordings to clients.”

He added: “Bringing together different practices to drive innovative client solutions is at the heart of Inver Re.

“The walls between categories of reinsurance such as capital markets, loss index catastrophe bonds and parametric cover are breaking down. Our global index business will tightly interlock with our adjacent practices to bring each client an integrated programme.”

Mr Johansmeyer said: “I’m excited to be part of Inver Re, and to build out something really special.

“The industry loss index business has become large, intricate and vibrant over the past five years due to the dual developments of increased worldwide loss activity and the proliferation of loss indices during that period.

“The next era of development requires the combination of specialty market knowledge and ILW capabilities that Inver Re is uniquely equipped to deliver.

“From demonstrably world-class weather modelling to robust and growing analytical capabilities, Inver Re’s knowledge, experience and research is already translating into actionable intelligence.

“Our integrated practice will further clients’ understanding of how to use risk transfer capital more efficiently while respecting risk appetite, profile and tolerance.”