Parameter Climate completes buyout of SiriusPoint stake

New York, October 31, 2023 -- Parameter Climate, the market-leading climate risk advisory, distribution and analytics firm, has announced a management buyout of its seed investor, SiriusPoint Ltd (“SiriusPoint”), two years after the launch by its veteran team in October 2021. SiriusPoint will continue to support Parameter Climate with underwriting capacity.

The company, headquartered in New York City, is building on its initial successes by adding advisory and brokerage services for both vertical-based protection buyers and capacity providers, in addition to offering licensing of ClimateDelta, its state-of-the-art climate risk transfer analytics platform.

“We thank SiriusPoint for its significant contribution 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.”

“With increased climate and weather volatility, risk transfer is becoming a strategic imperative for protection buyers in a number of industries and an important opportunity for a growing group of capacity providers,” Malinow added. “Parameter Climate will make this risk insurable and investable by combining the market’s most experienced advisory team with cutting-edge analytics.”

About Parameter Climate
Parameter Climate, created in 2021 and based in NYC, is an end-to-end, analytics-driven advisory, underwriting and distribution platform servicing the climate and weather risk market. Our mission is to increase access to the market by working closely with protection buyers from multiple climate-impacted verticals, including Energy, Renewables, Agriculture, Construction and Transportation as well as the entire risk capacity ecosystem comprised of re/insurers, dedicated ILS funds and other institutional investors.

About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm, and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Managers within our Insurance & Services segment. With over $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, please visit www.siriuspt.com.

Contacts:
Martin Malinow, CEO, Parameter Climate
[email protected]

Media
Sarah Hills, Rein4ce
[email protected]
+44 7718882011