Chief executive says appointee is ’ideal candidate to accelerate the growth’ of its green solutions portfolio

Munich Re Speciality Group has appointed Parhelion Underwriting founder Julian Richardson as the new chief underwriting officer of its green solutions portfolio, a statement released today (18 July 2023) said.

In the newly created role, which comes into effect from 1 September 2023, Richardson will be responsible for the performance, management and growth of the group’s underwriting division, alongside delivering Munich Re’s sustainability and ambition 2025 strategy.

He will be based in London and will report to Munich Re Speciality Group chief underwriting officer Dominick Hoare.

Munich Re Speciality Group chief executive John Wilkinson said that the appointee’s “high standing among industry peers makes him the ideal candidate to accelerate the growth of our green solutions portfolio”.

“Green solutions has a decidedly ambitious target to capture a leading market share of green commercial specialty and primary insurance risks by 2030,” he added.

“Through Julian’s leadership of the portfolio, combined with our Munich Re track record, I am confident we will deliver the insurance services needed to support and have a meaningful impact on the transition to a net zero economy.”

Career snapshot

Richardson founded energy and climate risk finance company Parhelion Underwriting in 2006 and brings over 30 years of financial services experience to the role.

Prior to establishing Parhelion, Richardson worked as an advisor to the UK Government Department for International Trade on insurance and resilience finance.

He also served as assistant director at Sedgewick, vice president at Marsh and senior underwriting risk manager at GE Insurance Solutions.

In his new position, Richardson said he was “determined to build” on his “mission of enabling the green transition, as well as continuing to increase the awareness of the insurance industry’s vital role in building a sustainable and resilient world”.

“Munich Re Specialty Group has shown incredible commitment to taking real action on climate,” he said.

“Green solutions is a bold and important proposition for the speciality risk market and is exactly what I have been championing for the last two decades.

“I am excited to be integrating the wide-ranging sector knowledge and expertise gained from Parhelion to Munich Re’s world leading platform.”