USQRisk has appointed co-founders Michael Zipper and Parag Bavishi as co-chief executive officers, effective August 1.
The leadership change follows the departure of CEO Anibal Moreno, who will step down on July 31 to focus on personal interests.
USQRisk operates as part of Ryan Specialty’s alternative risk division and offers bespoke risk financing solutions through a managing general agent (MGA) platform. The firm was founded five years ago by Zipper, Bavishi, and Moreno.
Zipper currently serves as president and leads the firm’s structuring and risk financing strategies for re/insureds and risk takers, working across property and casualty, credit, and financial products. Before co-founding USQRisk, he held senior roles at Allianz, including general counsel for its alternative risk transfer and insurance-linked securities businesses.
Bavishi, USQRisk’s chief underwriting officer, oversees underwriting, pricing, and portfolio management. He also manages re/insurance relationships for the firm’s alternative risk transfer operations. His prior experience includes senior underwriting and actuarial positions at Allianz, Northbridge, and Zurich.
“Since USQ’s founding five years ago, Anibal has consistently brought innovation and leadership to the company’s evolution,” Zipper and Bavishi said in a joint statement. “We are grateful to Anibal for his vision and courage to build a first-of-its-kind MGA concept… and we look forward to carrying forward USQ’s mission.”
Moreno, who led the company through its early growth and integration into Ryan Specialty, said he is stepping down “grateful, proud and inspired” by the team’s accomplishments. “It’s been a privilege to work alongside Michael Zipper and Parag Bavishi for over a decade,” he said, adding that he remains a supporter of the firm’s long-term direction.
USQRisk focuses on developing customized risk solutions for clients using alternative risk transfer and insurance-linked structures. The firm’s work spans partnerships with re/insurers, capital providers, and corporate risk holders. The leadership transition comes as the company continues to expand under the Ryan Specialty umbrella.
