ABN Amro has hired Henry Kus as director of weather and insurance derivatives. The Dutch bank said it had made the appointment in response to "rapidly increasing" investor demand for weather derivatives products.Kus will be responsible for developing convergence products - those that combine the liquidity of trading instruments with the customisation of insurance products - for financial institutions and corporate clients in Europe and the US.
“New corporate governance regulations requiring companies to identify, quantify and manage all forms of risk are fuelling rapid growth in weather derivatives usage,” said Alex Schippers, ABN’s global head of weather and insurance derivatives.
“At the same time, investors seeking non-traditional investment assets are boosting liquidity and providing much-needed extra capacity in this market,” he added.
Kus has more than 15 years' experience in the alternative risk financing markets, having held various posts at AIG and Chubb Financial Solutions.
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