Paratus Holdings has announced the establishment of its insurance brokerage division, Paratus & Partners, as it looks to provide specialised energy price risk broking expertise.
The new division is regulated by the Financial Conduct Authority (FCA) and enables UK clients to access Paratus’ insurance platforms based in Guernsey.
Founded in 2020, Paratus is known for introducing the world’s first insurance solution aimed at mitigating energy price risks.
It noted it is on a mission to collaborate with businesses in the renewable, maritime, and aviation sectors to hedge against fluctuating energy costs, and in the process protect revenues and improve investment returns. The initiative also supports clients in reallocating capital towards sustainable fuel and renewable energy projects.
The newly-established brokerage is led by Duncan Ross, who has over 15 years of experience in maritime operations and claims as a ship broker and fleet manager. The team includes Garwyn Lam, with more than 25 years in energy markets, and Kim Rosello, who brings 26 years of experience in the risk advisory and financial sectors.
Paratus & Partners’ board comprises top specialists from the maritime, aviation, and energy sectors, ensuring strict governance under its FCA regulation.
The launch also follows a recent capital injection into the Paratus Group by ARA Partners, a private equity firm with a $6 billion portfolio focused on industrial decarbonisation.
Gus Majed, founder and CEO of Paratus, described the launch as a “critical milestone” in the firm’s journey.
“It reflects our continued commitment to provide the best product knowledge and expertise to service clients in the renewable, aviation and maritime industries,” Majed said. “Paratus & Partners will help solve clients’ challenges, with energy price risk policies that can have a transformative impact on their business and the environment, thereby driving the transition to sustainable fuels and renewable energy.”
Duncan Ross, managing director at Paratus & Partners, also highlighted evolving demands in the brokerage industry.
“Clients have increasingly high expectations from their insurance brokers and expect a level of expertise and knowledge. This trend is showing no signs of slowing down. Clients want an insurance broker who has an in depth understanding of the products, not just a salesperson. At Paratus & Partners, our aim is to build a strategic partnership with clients, so we can help them achieve their objectives,” Ross said.
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