Munich Re forms parametric business unit

Munich Re announced the formation of a global parametric team.

The new division will initially focus on natural catastrophe risks with the possibility to introduce additional lines in the future.

“The unique value proposition of parametric risk transfer has attracted the attention of many decision-makers in the private and public sectors, contributing to a steady increase in insurance capacity through parametric solutions. As a result, Munich Re’s ambition is to bring together its parametric expertise in a dedicated unit and grow its share of parametric business, while helping to reduce protection gaps and enable its clients to become financially more resilient to natural catastrophe risks.” – August Pröbstl, Head of Capital Partners at Munich Re.