Global Parametrics, part of the CelsiusPro Group, has been named a Lloyd’s coverholder for Canopius Syndicate 4444, marking a significant expansion in capacity for its delivery of parametric risk transfer solutions for natural catastrophe events.
Under the agreement, Global Parametrics will be granted binding authority to underwrite on behalf of Canopius, building a portfolio of business focused on high-impact natural perils such as tropical cyclone, earthquake, flood, and excess rainfall.
In addition, the partnership will also allow Global Parametrics to underwrite business and deploy risk capacity under the guidelines set by Syndicate 4444.
The move builds on Global Parametrics’ expertise in managing climate and disaster risk, notably through its work developing the Natural Disaster Fund (NDF) since 2018.
By leveraging parametric structures, designed to offer fast, transparent payouts triggered by predefined events, the collaboration enables more efficient capital deployment and financial resilience in disaster-prone regions.
Mark Rueegg, CelsiusPro Group Chief Executive Officer, commented: “The partnership with Canopius is a major milestone for our company. We are doubling down on our Group’s core expertise of structuring parametric solutions and our approach to deploying risk capacity for climate and natural catastrophe perils.”
“We are also thrilled to become part of the Lloyd’s of London ecosystem as it will foster our ability to help more clients and communities become more resilient,” he added.
Alois Rouffiac, Canopius UK Chief Underwriter Officer, said: “We’re excited to partner with Global Parametrics as our Lloyd’s coverholder. This partnership enables Canopius to deploy risk capacity for parametric solutions globally, which represents an attractive opportunity to further expand parametric insurance as a scalable solution.
“We believe these products can address the growing protection gap in regions where underinsurance remains a pressing issue,” Rouffiac concluded.
