Miller, the independent and private equity funded broking group, has announced the launch of a dedicated parametric risk transfer focused business unit, hiring Alice Glenister to be head of the global team.
As we said recently when Gallagher announced the launch of a dedicated parametric unit, while we’ve been covering parametric risk transfer structures and arrangements for over a quarter of a century, we have never seen such interest in this product set, as we are now seeing emerge in 2024.
We’re even at the stage of parametric risk transfer market growth where highly-respected and senior industry executives who told us only a few years ago that parametrics would never gain any scale, are now doubling-down on the opportunity (we won’t name names).
If we had a parametric risk transfer hype cycle, we would surely be at or nearing the peak. It’s taken a long time to reach the so-called peak of inflated expectations, given parametric triggers have been in use for over 30 years, but it’s a positive sign that finally the market is waking up…
