Global Parametrics and Canopius Sign Lloyd’s Syndicate Coverholder Partnership
Global Parametrics, a CelsiusPro Group company, will build a global portfolio of parametric business on behalf of Canopius
LONDON/ZURICH, 23 April 2025 – Global Parametrics and Canopius, a leading international specialty lines and P&C (re)insurer, announce a partnership under which Global Parametric becomes coverholder to Canopius Lloyd’s Syndicate 4444 and is granted authority to underwrite business on their behalf.
The Canopius syndicate, is one of the largest in the Lloyd's of London marketplace. A Lloyd's syndicate is a group of underwriters who come together to pool capital and share (re)insurance risks within the Lloyd's market.
As coverholder, Global Parametrics will build a portfolio of business for Canopius under a binding authority agreement. Global Parametrics will underwrite business and deploy risk capacity under the guidelines set by Syndicate 4444.
Mark Rueegg, CelsiusPro Group Chief Executive Officer, said: “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.”
Alois Rouffiac, Canopius UK Chief Underwriter Officer, stated: “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.”
In its capacity as Lloyd’s coverholder to Canopius, Global Parametrics will focus initially on underwriting perils such as tropical cyclone, earthquake, flood, and excess rainfall. The partnership leverages Global Parametrics’ expertise in building the portfolio of the Natural Disaster Fund (NDF) since 2018.
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Media contact:
Daniel Perez-Whitaker
Head of Marketing & Communications
daniel.perezwhitaker@celsiuspro.com
Global Parametrics, a company of the CelsiusPro Group, focuses on developing parametric risk transfer solutions that create a positive impact for vulnerable communities in countries prone to extreme weather and natural catastrophe risks. The company mobilizes risk capacity to underwrite parametric risk transfer through dedicated structures, which are backed by reinsurers with AA-ratings. The Global Parametrics team manages the Natural Disaster Fund (NDF), a public-private partnership with capital committed by the UK government's Foreign, Commonwealth and Development Office, and Germany's development bank KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). The NDF shares risk with Hannover Re. globalparametrics.com/
Canopius is an international specialty and P&C (re)insurer. Canopius underwrites insurance products on several platforms to offer a wide range of specialty solutions. Our offices are located in Australia, Bermuda, Singapore, the UK and the US. We underwrite through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), a US surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer. By working together across regions, we create global insurance solutions in more than 130 countries. canopius.com/
Lloyd’s is the world’s leading marketplace for insurance and reinsurance. Through the collective intelligence and risk-sharing expertise of the market’s underwriters and brokers, Lloyd’s helps to create a braver world. lloyds.com/
CelsiusPro Group is dedicated to helping both private and public organisations understand and mitigate the financial impact of climate and NatCat risks. Our Insurtech platform integrates climate data and risk modelling to develop advanced solutions that enable insurance companies and brokers to distribute and manage tailored parametric insurance. Through our consulting services, we provide end-to-end insights on physical climate risk assessment, disaster risk finance, and structuring and risk modelling for insurance schemes. Our subsidiary, Global Parametrics, seeks to mobilise and deploy risk transfer capacity through various financial instruments and vehicles. With these integrated efforts, CelsiusPro Group advances parametric risk transfer from the fringes to centre stage in climate and NatCat protection. celsiuspro.com/