NEW YORK, Jan. 10, 2022 – Arbol Inc. (Arbol), a global climate risk solutions platform, today announced that Hector Ibarra has joined the company as Vice Chairman of LATAM. Ibarra joins the company with more than two decades of experience driving innovation and market development efforts across the financial industry, including parametric risk transfer products.
Ibarra most recently served as CEO of Global Parametrics, where he established a corporate mandate to leverage climate science, data modeling, and financial engineering to build tools that could understand, manage and mitigate the risks of extreme weather and natural disasters. As part of this, Ibarra also served as the Portfolio Manager of the Natural Disaster Fund (NDF), the first-ever ESG-focused ILS fund to become operational in the market.
“We are thrilled to welcome a colleague who has such extensive knowledge in disaster risk financing, insurance-linked securities, parametric insurance, and more specific skills critical to the success of our company,” said Sid Jha, founder and CEO of Arbol. “Hector’s international experience in leading ESG fund managers, financial intermediaries, and multilateral agencies will be pivotal to our growth as we expand into new verticals and markets.”
Prior to Global Parametrics, Ibarra served as Lead Financial Officer at the World Bank, where he designed and placed over $1 billion in innovative disaster risk financing products. He also previously served as Assistant Vice President, Insurance-Linked Securities (ILS) at PartnerRe.
“I’m excited to join a company that is paving the way for the future of impactful parametric insurance on a global scale,” said Ibarra. “As the world grapples with emerging climate risks and market pressures, businesses need to remain resilient. Arbol’s parametric products and climate risk solutions have made massive headway on this front, and I look forward to driving operations for the company in LATAM.”
About Arbol
Arbol is a global climate risk coverage platform and FinTech company offering full-service solutions for any business looking to analyze, manage and transfer climate risk. Arbol’s products offer parametric coverage which pays out based on objective data triggers rather than a subjective assessment of loss. Arbol’s key differentiator versus traditional InsureTech or climate analytics platforms is the complete ecosystem it has built to address climate risk. This ecosystem includes a massive climate data infrastructure, scalable product development, automated, instant pricing using an artificial intelligence underwriter, blockchain-powered operational efficiencies, and non-traditional risk capacity bringing capital from non-insurance sources. By combining all these factors, Arbol brings scale, transparency, and efficiency to parametric coverage in stark contrast to the oligopoly of reinsurers that currently dominate the climate risk insurance space.
Contact: arbol@5wpr.com
