Descartes Underwriting expands operations

Descartes Underwriting has launched its Madrid office to further expand their parametric coverage to markets throughout Ibero-America.

Raul Revilla joins as Commercial Director LatAm and will oversee the parametric offerings to corporates and public entities in climate-exposed markets in Mexico, Central, and South America. Juan Maria Marqués Domenech joined Descartes earlier this year as Commercial Director Iberia, overseeing the Portuguese and Spanish markets.

“Recently, Latin America and Iberia have endured a diverse range of natural disasters and extreme weather events such as severe droughts across Brazil, Chile, Argentina & Paraguay, to Hurricane Grace in Mexico, winter storm Filomena bringing Iberia to a standstill, and extensive wildfires in Central and South America. The impacts of climate change and increased weather volatility is reshaping business and disrupting communities. Descartes’ parametric solutions enable corporations and communities to increase their ability to respond to such events in a more efficient, faster and flexible manner than traditional insurance,” said Raul Revilla, commercial director LatAm.

Juanma Marqués, commercial director Iberia added, “As climate change drives losses and exacerbates these exposures, we are proud to offer an innovative risk transfer alternative that builds resilience. Bringing Descartes’ parametric solutions closer to brokers and corporate clients in Ibero-America makes sense, especially given the widening coverage gap between insured and uninsured losses as companies increase their exposures through international expansion.