NormanMax hires Swiss Re’s Yong Li as President, Climate & Alternative Risk Solutions

NormanMax, the US based parametric insurance and reinsurance group with a pure-parametric syndicate at Lloyd’s, has hired Yong Li from reinsurer Swiss Re as its first President for Climate and Alternative Risk Solutions, bringing onboard significant expertise in non-catastrophe weather risk transfer and trading.

Yong Li has more than two decades of experience in the weather risk transfer space and has worked at a number of companies that leveraged both traditional and alternative reinsurance capital to support trades in the non-catastrophe weather risk management space.

Having begun his career working at Nasa, Li moved to work as a quantitative analyst at firms including Williams Energy, Progress Energy and BP.

In 2007, Li became the Head of Structuring and Analytics at Galileo Weather Risk Management, then after two years moved to become Head of Analytics at NICO Holdings.

In 2010, Li joined re/insurer ACE Group as a catastrophe risk portfolio manager, before then joining PartnerRe Capital Markets later that year as Managing Director, Commodities.

Li joined reinsurance firm Swiss Re in 2013, first as consultant, then working his way through positions as a quantitative modelling expert, Portfolio Manager for Weather and Energy, and finally Head Portfolio Steering for the Weather and Energy Group.

Li has now joined NormanMax in Miami as its President for Climate and Alternative Risk Solutions.

He brings NormanMax significant experience in weather and commodities analytics and trading, as well as catastrophe risk pricing and portfolio management.

Li has structured and traded risk transfer products across the weather and energy spectrum, in both insurance and derivative formats, while also having investment experience across the product set as well.

Brad Meier, CEO of NormanMax Insurance Holdings commented, “I’m really excited to welcome Yong Li to the NormanMax family! His breadth of experience will be amazingly valuable for helping our clients and insureds.”

Li is a meaningful addition to the NormanMax team, demonstrating the firms expansive plans across both natural catastrophe and weather based parametric risk transfer.