(Re)insurer launches new insurance broking arm

(Re)insurer Paratus Holdings has launched a new insurance broking arm to offer clients energy price risk expertise.

Called Paratus and Partners, the new division will focus on servicing clients in the maritime, freight, aviation and renewable power sectors.

It will be led by managing director Duncan Ross, who has spent 15 years working as a ship broker and fleet manager.

He will be joined by Garwyn Lam and Kim Rosello, who have over 50 years of experience between them working across the energy, risk advisory and financial markets.

“Clients have increasingly high expectations from their insurance brokers and expect a level of expertise and knowledge,” Ross said.

“This trend is showing no signs of slowing down. Clients want an insurance broker who has an in depth understanding of the products, not just a salesperson.

“At Paratus and Partners, our aim is to build a strategic partnership with clients, so we can help them achieve their objectives.”

’Critical milestone’

The launch of the broking arm comes following the recent completion of a growth equity investment in Paratus Group by ARA Partners, a US private equity firm.

The new broking arm is regulated by the FCA and allows UK clients to access Paratus’ Guernsey (re)insurance platforms.

Gus Majed, founder and chief executive of Paratus, said: “The launch of Paratus and Partners is a critical milestone in our journey. It reflects our continued commitment to provide the best product knowledge and expertise to service clients in the renewable, aviation and maritime industries.

“Paratus and Partners will help solve clients’ challenges, with energy price risk policies that can have a transformative impact on their business and the environment, thereby driving the transition to sustainable fuels and renewable energy.”