For the fourth year running, Sompo Global Weather was named Energy Risk’s 2019 Weather House of the Year.
Martin Malinow, President of Sompo Global Weather, discussed his team’s greatest successes over the past year, the evolving weather risk industry, and his views on weather-derivative protection being driven by climate change and not just seasonality in an online article published in risk.net. “What is becoming clear to us is that the expectation of ‘normal’ weather is evolving,” he said. “For the first 20 years, the [weather] market was focused on locking down annual variations in weather. [Now] our clients are increasingly looking to lock down that climate ‘drift’.”
Focusing on the four main verticals of energy, food, water and infrastructure, Sompo Global Weather offers protection against an enormous variety of climate-related risks. This ranges from hedging food production for the agricultural industry – for example, by offering parametric insurance for longan fruit in northern Thailand – to managing construction risk on energy projects. Sompo Global Weather’s product set is clearly appreciated by the market, as it retained its leading position among weather dealers in the 2019 Energy Risk Rankings.
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