Munich Re, the world's largest reinsurer, has established a New York-based weather derivatives desk in its Munich American Capital Markets division.The desk is run by Paul Murray - a one-time Enron weather trader who has also worked at Goldman Sachs. Murray reports to Ken Bock, head of the capital markets unit in New York. Munich Re has also hired Vivek Pawaly - formerly of Boston-based catastrophe modelling company AIR - to work as a derivatives structurer.
Pawaly said Munich Re will trade in both the over-the-counter and the exchange-traded weather derivatives markets. The company is also looking at the potential of offering risk management services to the agricultural sector, Pawaly added.
Both Pawaly and Murray will attend the Weather Risk Management Association meeting that starts tomorrow in New York. The trade association will release details of its annual weather derivatives survey later this week.
Topics: Munich Re
More on Risk Management
Welcome to The Journal of Computational Finance's Online Early Forum. Here you will find the latest peer reviewed, accepted papers before they are available in print. With Online Early publication,...
This paper presents a simple approximation for the noarbitrage drifts that appear in Libor market model SABR-family term structure models.
This paper develops a new financial product that allows the profit-and-loss sharing (PLS) principle to be enforced recursively in practice.
Welcome to The Journal of Risk's Online Early Forum. Here you will find the latest peer reviewed, accepted papers before they are available in print. With Online Early publication, users can access...
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.