ACE USA announced that Ravi Nathan has been named Sr. VP – Global Weather, a new division within the company. He will report directly to Ed Zaccaria, president of ACE USA Specialty P&C Group.
“Based in Philadelphia, Nathan is responsible for developing a range of global weather risk protection products within ACE USA,” said the bulletin. “His primary goal is to build a diverse client base by providing tailored weather risk solutions for the weather sensitive sectors of Energy, Agriculture, Construction, Resorts, Entertainment, Retail and Municipalities worldwide.”
ACE USA Global Weather’s products will include single event products with payouts linked to a specific weather outcome and blended products covering the adverse financial effects of both weather and some other risk, such as a power outage or a property loss.
“ACE USA’s unique platform for the development of creative weather risk management solutions along with Ravi’s talent and experience will help our customers better understand and manage their weather risks worldwide,” Zaccaria indicated. “By building a global portfolio of weather risk transactions through ACE USA’s unique network we will be able to bring the advantages of portfolio diversification on a large scale to our weather-sensitive corporate clients.”
Nathan has over 20 years experience with weather derivatives. He most recently served as the general manager for Aquila Inc.’s Weather Derivatives Group where he was responsible for the strategic initiatives, overall profitability and day-to-day management of the weather derivatives business. He’s also held the post of VP for Origination, Weather Derivatives Group and director, International Group for Koch Industries, Inc., and as manager, Merchant Banking Division for Grindlays ANZ Bank in Bombay, India.
Was this article valuable?
Here are more articles you may enjoy.