Global reinsurance broker Gallagher Re has named Antoine Bavandi Global Head of Public Sector, Parametric and Climate Resilience Solutions.

Mr Bavandi is the first person named to the new role, which focuses on managing and reducing financial costs associated with climate and disaster risks in co-ordination with public and private sectors worldwide.

Gallagher Re says the role will promote financial preparedness, de-risking strategies, and enhancing established and innovative risk management tools.

Mr Bavandi brings previous experience in climate risks, having served five years as a senior climate and disaster risk specialist at The World Bank, as well as a catastrophe risk portfolio manager at Lloyd’s underwriter ArgoGlobal.