Paratus, a re/insurance group focused on underwriting energy price risk, has named Taraneh Azad (pictured above) as chief commercial officer.
In her new role, Azad will lead the firm’s commercial strategy, with responsibility for client engagement and the development of strategic partnerships.
Azad has over 20 years of experience in energy price risk management. Her background includes senior roles across the commodities sector, including managing director at Goldman Sachs, vice president at Morgan Stanley, and EMEA head of origination at Hartree.
More recently, she served as chief investment officer and managing partner at Systemiq, an advisory and investment firm focused on sustainability.
She also holds current positions as a non-executive director at Greencoat UK Wind plc and as a senior advisor to both Systemiq and the Circular Bioeconomy Alliance.
Group CEO and founder Gus Majed said Azad’s background in energy risk and market strategy will support the company’s commercial initiatives.
“We are confident Taraneh will play a central role in expanding our strategic partnerships – an essential pillar of our growth strategy,” Majed said.
Paratus works with clients in renewable energy, maritime, and aviation to protect against adverse price movements and support project returns.
In April, Paratus announced a partnership with Low Carbon, an independent power producer, to implement its energy price insurance product across a diversified renewable portfolio. The collaboration includes wind and solar assets and aims to reduce revenue uncertainty linked to fluctuating market prices under Power Purchase Agreements.
2024 also saw important milestones for the re/insurance group. In September, Paratus received regulatory approval from the Guernsey Financial Services Commission to underwrite energy price risk for renewable power through its licensed platform, Paratus Renewables Insurance Ltd. The authorization enables coverage for wind, solar, biofuels, and hydrogen-related assets.
Earlier that year, Paratus also expanded its business footprint by launching a new brokerage subsidiary, Paratus & Partners. Regulated by the UK Financial Conduct Authority, the division provides broking services focused on energy price risk across multiple sectors, including LNG, shipping, aviation, and carbon.
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