Parag Bavishi joins USQRisk as CUO

Parag Bavishi has joined USQRisk as a partner and chief underwriting officer of the new alternative risk transfer and programs shop.

Bavishi came from Allianz where he was deputy head of the North America alternative risk team in New York, responsible for the group’s alternative risk transfer business.  Earlier in his career he worked at Zurich and Northbridge Insurance.

At USQRisk he is responsible for all underwriting, and will help to build up the alternative risk transfer business, structuring bespoke reinsurance products, and focus on captives, parametrics and other products.

USQRisk launched in March 2020 and, although it has a relatively small team, its employees pack a considerable amount of industry experience, having been in re/insurance for an aggregate of over 300 years.

Bavishi said he had been attracted to USQRisk by the opportunity to work at a relatively small company where he can help shape the business.

“This is a great time to be in the market,” he said. “The market needs fresh ideas and fresh capacity and that is what USQ is there to deliver.”

USQRisk is developing its extensive capacity provider contacts to be able to serve the risk buying market where it is looking for alternative risk transfer.