Reinsurance News
Descartes Underwriting
Descartes plans expansion after $120m capital raise
31st January 2022
Descartes Underwriting, an insurtech company specializing in corporate insurance solutions to address climate and emerging risks, has announced a $120 million Series B funding round. Growth equity firm Highland Europe led the raise alongside international investment company Eurazeo, with participation from existing investors Serena, Cathay Innovation and Blackfin Capital Partners and ... Read the full article
Descartes partners with Global Earthquake Model Foundation
19th November 2021
Climate risk modelling insurtech Descartes Underwriting has partnered with the Global Earthquake Model (GEM) Foundation. GEM Foundation is an international public-private partnership committed to the development of open-source hazard and risk assessment software, tools and data. The collaboration aims to accelerate the ‘data to resilience’ continuum by leveraging Descartes’ parametric insurance solutions ... Read the full article
Descartes opens London office, appoints AXA XL’s Paul Jones to lead
1st November 2021
Climate risk modelling insurtech Descartes Underwriting has opened a London office to be led by Paul Jones as business development director - UK & Ireland. Jones brings 20 years’ experience to the role and most recently served at AXA XL. He will now look to expand Descartes’ parametric insurance coverage within both ... Read the full article
Descartes enters partnership with ICEYE
20th October 2021
Descartes Underwriting, an insurtech focused on climate risk modelling and data-driven risk transfer, has partnered with ICEYE, a provider of flood hazard data. The partnership will combine Descartes’ ability to incorporate its technology into its parametric insurance product design with ICEYE’s synthetic-aperture radar (SAR) flood data and monitoring capabilities. Leveraging ICEYE’s multi-source ... Read the full article
Descartes makes two senior hires for new APAC offices
2nd August 2021
Descartes Underwriting, an insurtech focused on climate risk modelling and data-driven risk transfer, will be launching two offices in the Asia-Pacific region, expanding the reaches of its parametric cover. Robert Drysdale has been appointed head of Southeast Asia and will oversee the Singapore office. Drysdale brings 14 years’ experience of broking complex ... Read the full article
Descartes Underwriting secures $18.5mn in series A funding
10th September 2020
Descartes Underwriting, an insurtech focused on climate risk modeling and data-driven risk transfer, has raised $18.5 million in a series A funding round. Co-led by Cathay Innovation and Serena, this latest round follows $2.5 million in seed funding from BlackFin Capital Partners. The new funds will be used to support Paris-based Descartes’ ... Read the full article
RKH, Descartes complete first parametric weather trade on AkinovA
19th May 2020
RKH Reinsurance Brokers and Descartes Underwriting has completed the first parametric wind trade on AkinovA, a broker-centric electronic marketplace. This is the first weather transaction to be completed on the platform and opens up a new, yet tested, channel for similar deals. The twelve-month parametric wind instrument was purchased by a European ... Read the full article
Generali (GC&C) partners with Descartes on parametric insurance
14th May 2020
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has partnered with insurtech firm Descartes Underwriting to offer parametric insurance products. Descartes specialises in weather risk modelling and data-driven risk transfers and acts as a risk advisor, backed by independent private equity firm BlackFin Capital Partners. The partnership ... Read the full article
Descartes Underwriting appoints Head of ILS and Cat Modelling
8th March 2019
Descartes Underwriting, the newly launched parametric and data-driven MGA, has appointed Edern Le Roux as Director, Head of ILS and Cat Modeling Le Roux joins Descartes from SCOR Investment Partners, where he has served since 2014 as Head of ILS Risk, with responsibility for the Risk Management of the ILS ... Read the full article
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