ILS Capital Management opens London Office

ILS Capital Management Ltd (ILS Capital), the specialist investment manager in insurance-linked securities and collateralised reinsurance, has announced the opening of an office in London.  In addition it announces the appointment of senior executives, including a new CFO and property cat underwriter in its head office in Bermuda.

Don Kramer, founder and chairman of ILS Capital, said: “These senior appointments add considerable strength to ILS Capital’s team.” 

The London office will be staffed by John Warwick and John Haggerty, both highly-experienced reinsurance underwriters, focusing on specialty reinsurance. Mr Kramer explained:  “While property catastrophe reinsurance is centred in Bermuda, London is the centre for the specialty reinsurance market.”

John Haggerty will focus on marine and energy reinsurance contracts, while John Warwick will cover international (non-US) property and weather. Mr. Warwick’s weather insurance business, Excess Weather, will be folded into the London operation of ILS Capital. 

Mr Kramer commented: “ILS Capital is a progressive business and I am determined to stay a step ahead of our peers. John Haggerty and John Warwick’s 60 years combined reinsurance experience in the London market gives us an unprecedented opportunity to expand our operation.”

Turning to Bermuda, Mr Kramer said that Teresa Gallant has been appointed CFO, and Glenn Clinton has joined the business to head up US property underwriting.

Glenn Clinton joins ILS Capital from Tower Reinsurance, Ltd., Bermuda, where he was president and chief underwriting officer, managing a $360m book of property quota share excess of loss reinsurance business.