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Work Background
Celsius Re Ltd.Director
Feb. 2023Celsius Re offers embedded buy-side re/insurance M&A advisory services to Private Equity, Sovereign Wealth, and HNW/Family Offices. Leveraging industry experience and expertise, we evaluate and stress-test re/insurance business plans and strategies.
Celsius Re supports investors throughout their investment journey, from pre-due diligence to closing. Our services include:
- Embedding ourselves within the investor's business, standing by their side, and interacting with the buyer.
- Identifying potential issues during due diligence and providing recommendations to address any concerns.
- Supporting the investor with their investment business case model and all investment memos.
- Participating and presenting in investor investment committees.
- Collaborating with legal, investment banking, and actuarial teams during due diligence.
- Offering recommendations for conditions precedent and representations & warranties.
- Introducing Limited Partners (LPs) and leveraged solutions to our investor clients.
- Providing independent non-executive director services post-closing. As of Q1 2024, Celsius has advised three private equity firms, evaluating over $2.5 billion in transactional M&A, and anticipates a closing valuation of $550 million for three transactions. Our investor clients have described our services as "invaluable" to their review and decision-making process.
Pyrrhic Re Ltd.Chief Executive Officer & Founder
Oct. 2019London, United KingdomWHO WE ARE Pyrrhic Re is a London based Reinsurance MGA operating company. Our USP is our name, market standing and an outperforming track record. Pyrrhic Guernsey will be a Holding and Incorporated Cell Company subject to regulatory approval The Holding Company shall provide compliance and oversight of the Operating Companies. Our Guernsey Incorporated Cell Company will provide Collateralized Quota Share Reinsurance to our Capacity Providers on the Pyrrhic Re portfolio WHAT WE DO Pyrrhic Re will offer:
Property Treaty, International Facultative & Retrocession.
Casualty, Professional Lines & Cyber Treaty
Specialty Offshore & Onshore, Marine Hull & Cargo, Aviation, Agriculture, Credit & Other Treaty. WHOM DO WE WORK WITH-OUR CAPACITY PROVIDERS We do so in consortia of AM Best A- or better rated carriers or stronger. Those carriers embrace Pyrrhic Re because: They do not underwrite P&C reinsurance and seek class of business diversification.
They are a regionally concentrated P&C Reinsurer who seek a diversified regional reinsurance play.
They are a global reinsurance business who seek an alternative return and signing strategy. WHOM DO WE WORK WITH-OUR CLIENTS Our clients are counter-parties that the Pyrrhic Re Executive management team have known for many years. We have worked together because our clients have valued our opinion and support. Pyrrhic Re works exclusively with market leading business units who treat Reinsurers as partners in a fair and equitable manner. Our clients are typically originating from high GDP countries and our contracts are predominately USD denominated. OUR INVESTORS Our investors are aligned to our business as they are majority shareholders of Pyrrhic Re. They have embraced our business strategy that has planned out achievable objectives and returns, with low volatility and market outperforming expense ratios.They desire a small, nimble and cost-conscious investment.
Verto Syndicate 2689CEO & Active Underwriter
Jan. 2017 - May. 2019London, United KingdomWas a founding partner and responsible for the Underwriting and Operational Performance of start up Lloyd's syndicate Verto 2689 Verto Syndicate 2689 was established for the purpose of deploying Private Capital through the underwriting of treaty reinsurance contracts. The leadership team sourced business via reinsurance brokers leveraging long standing marketing relationships of the CEO and leadership team.
EnduranceEVP & CUO Head of Office, Head of EMEA P&C & Global Specialty Reinsurance
Aug. 2013 - Mar. 2016Zürich Area, SwitzerlandWith a portfolio of $90M and 14 staff, I was accountable for Reinsurance P&C operations and I developed and implemented robust processes and procedures which facilitated coordinated operations and facilitate business continuity. As Head of Global Specialty Reinsurance, an ambitious start-up operation with Lines of business including: Political Risk, Trade Credit & Surety, Marine & Energy, Agriculture, Aviation and Space Engineering, I was responsible for developing a portfolio of circa $450M, identifying and capitalising upon every opportunity to secure new business. Another responsibility was the hiring of Specialty teams, comprising a 27-strong staff in Zurich, Bermuda, New York, London and Singapore. I was also Head of the Zurich branch office with an office premium volume of $500M and 42 staff, managing effectively and implementing initiatives to improve staff morale and encourage common goals and aims/ One of my key accomplishments was achieving close to $1M in G&A savings.
Tokio Millennium Re Ltd.Strategic Underwriting Officer
Apr. 2011 - May. 2013BermudaAs a key Member of the Company Executive Committee, my responsibilities include: Development and management of Growth Strategies, including New Lines of Business and a new office establishment. I am also Underwriting Referral Officer for our London, Sydney and Zurich offices and Member of the Retrocession Committee. Key accomplishments include ensuring TMR successfully enter 7 new lines of business and also establishing offices in Sydney and Zurich.
Tokio Millennium Re Ltd. Zürich BranchChief Underwriting Officer
Nov. 2010 - Mar. 2011Responsible for the development of the reinsurance portfolio and the enactment of the branches underwriting guidelines and procedures. I also interviewed candidates for numerous positions, including my own.
Tokio Millennium Re Ltd.Senior Vice President-Specialty Lines & Casualty Lines
Nov. 2005 - Dec. 2010Key Marketing responsibilities:
Forged and developed robust relationships with Reinsurance brokers globally and developed and drove business across the Specialty portfolio worldwide, excluding Japan, by identifying and capitalizing upon all opportunities. Networking at every opportunity, I attended industry seminars and met clients and reinsurance brokers, maintaining a current awareness of industry regulations and legislations. I organized the Tokio Millennium events to raise awareness and enhance company profile in key markets. Key Underwriting responsibilities:
Diligently managed the Specialty portfolio and provided expertise across numerous lines of business, including: Workers’ Compensation Catastrophe risk, Agricultural Stop Loss & Proportional risk, Terrorism Treaty, Facultative and Per risk, Life & Personal Accident Catastrophe risk, Capped Quota Shares and Aggregate Stop Losses across all lines of business. Responsible for underwriting all new and existing Specialty risks for the Specialty portfolio comprising circa 200 contracts and $1.3Bn liabilities and maintained all existing deals through natural expiration or commutation, negotiating and agreeing any retrocession and commutations. I collaborated with Group Claims, Analytical, Actuarial and ERM in the evaluation of Specialty Portfolio underwriting performance. Financial responsibilities:
Responsible for the accurate and timely monthly, quarterly and annual analysis of the Specialty portfolio and supported the establishment of any Collateral requirements via Letter of Credits or Trust Agreements. Also provided support and opine in relation to Incurred claims, progressing swiftly and dealing with all issues effectively
Cologne Re DublinSenior Underwriting Manager
Apr. 2001 - Nov. 2005Key Marketing responsibilities: Developed and maintained non-life business opportunities which fell within the group business model, through direct and broke business contacts for specified territories. Also sole responsibility for handling all activities with respect to North American US Broker business and London Company market business. Additionally managed Southern Europe, Africa and Asia direct business. The Mandate involved 31 active/runoff deals totaling $650M in ceded premiums and circa $70M of Reinsurance Margins and LOC spreads. A key accomplishment was playing a pivotal role in the execution of 4 new deals in 2004, totalling $150M in ceded premium. Key Underwriting responsibilities:
Structured new deals comprising predominantly Capped Quota Shares, Aggregate Stop Losses and Loss Portfolio Transfers and based on Cedent needs, exclusively to Insurers, Captives, Risk Retention Groups and Reinsurers. Also developed all contract wordings and managed existing deals through natural expiration or commutation and negotiated and agreed any retrocession and commutation agreements, with 7 commutations negotiated in 2004. Work was undertaken in conjunction with Group actuarial and underwriting, sharing knowledge and promoting mutual support. Key Financial responsibilities:
Consulted with GenRe Capital on asset / liability matching based on expected payout patterns and average duration. Also established Trust Agreements, working closely with clients to identify year-end Letter of Credit requirements on all US approved / non-admitted existing deals. Key Management responsibilities:
Managed three associates, driving an environment of continual improvement and competence to achieve high standards of service
MIACM Services LimitedManaging Director
Dec. 1999 - Apr. 2001Traded own account on the NYCE / FINEX European Outcry facility in Dublin, with considerable success and also provided comprehensive advice to Corporations, Insurers and Intermediaries regarding ART / Financial Lines business. Advice was focused on full business plans, captive feasibility studies, securitization of commercial financing issues, contingent capital products, adverse development protections and loss portfolio transfers. Played a key role in the implementation of business plans and strategies for two UK-based Insurers and advised them on the placement of individual risks.
XL CapitalVice President
Dec. 1993 - Dec. 1999Underwriting Manager with the responsibilities of Marketing, Underwriting and management of the group’s excess property and liability book of business in Germany, Switzerland & Austria. Underwriting Manager of Non-traditional and Esoteric book business in London market. Responsible for all Property business for XL Europe. Managed a team of 5 underwriting professionals and support staff. Developed and rolled out XL Europe’s Contingency book of business. Developed and introduced XL Europe’s recall, pollution and German language products. Speaker at European Conferences on Multiline programs.
Gerling KonzernAssistant Vice President
Dec. 1989 - Nov. 1993Responsible for the Production, Pricing, Underwriting and Management of Global Home Foreign and Reverse Flow Property & Casualty accounts throughout the USA. Responsible for a $37 million primary and first excess property and casualty book of business. Visited and established the Gerling relationship with 275 broker offices in 40 cities. Developed underwriting guidelines. Managed licensing and state rate filings. Managed a team of 4 underwriters and support staff. Developed and trained entry-level underwriters and foreign nationals rotating through the US. Completed rotation in German, Swiss & Austrian sales offices assisting in the targeting of US businesses in Europe.
Crum & ForsterSenior Underwriter
Sep. 1985 - Dec. 1989Recruited for the Companies 12 month underwriting training program. Promoted into the underwriting group upon completion of training. Product lines included Package, Auto, Workers Compensation and General Liability. Provided guaranteed costs, retrospective rated and deductible plan business for medium sized companies in the NY metropolitan area. Placed facultative reinsurance. Trained entry-level underwriters. Worked full time while gaining my B.A. in Economics from University.
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