Price Forbes Re (PF Re) has appointed Sherman Power as Executive Vice President, Alternative Risk and Capital Solutions. Based in Dallas, Texas, Power will report directly to Pat Rastiello, CEO of Price Forbes Re, North America.
In this newly established role, Power will work alongside the treaty reinsurance team to support growth capital and reserve covers, enhancing PF Re’s reinsurance capacity in evolving insurance markets.
Bringing nearly three decades of experience in insurance and reinsurance, Power has expertise in both underwriting and broking. He joins PF Re from Aon Re, where he led the U.S. structured solutions team and served as Global Head of Innovation, Capital Advisory. Prior to Aon, he led Swiss Re US’s regional and large structured solutions team. Throughout his career, he has held senior leadership roles and managed teams across various business lines.
In a separate leadership move, PF Re has also appointed Isidora Alemparte as Wordings Director. In this newly created role, Alemparte will oversee the firm’s contract management strategy, ensuring the effective delivery and integration of wordings within PF Re.
PF Re’s expansion aligns with the increasing global demand for alternative risk and capital solutions. The alternative risk transfer (ART) sector has witnessed significant growth in recent years, fueled by changing market dynamics and the need for innovative risk management strategies.
ART solutions encompass non-traditional insurance mechanisms, including structured programs, parametric insurance, and catastrophe bonds. These approaches provide customized risk financing solutions, particularly for clients with complex risk profiles or adverse loss histories.
The ART market saw heightened interest in 2024, with structured and parametric solutions gaining traction as viable alternatives to conventional insurance placements. According to WTW, these solutions are expected to remain in demand throughout 2025 as organizations continue to seek tailored risk transfer strategies.
