16 December 2014ILS

ILS-focused reinsurer launches in Bermuda

Bermuda-based Sequant Re Holdings has completed its financing to launch Sequant Reinsurance Company (Sequant Re), a newly formed global reinsurer, and made several key hires in relation to the venture.

Focused on insurance-linked securities (ILS), the class 3 reinsurer will offer a platform for the transfer and securitisation of insurance risks in a bid to lower barriers for investors and expand the reach of risk transfer.

Spearheaded by industry veteran, Guy Cloutier, the venture hopes to make it easier for issuers and investors alike to access ILS-style risk transfer solutions.

“Innovation in platforms and products is the biggest opportunity in ILS,” said Cloutier. “Our goal is to lower barriers for investors and expand the reach of risk transfer and securitisation solutions. ILS makes it possible for anyone to transfer risks to investors willing to accept them. Sequant Re provides an efficient platform for matching capital with risks.”

The new hires include David Lalonde, who joins the company as chief risk and underwriting officer of Sequant Re. He was previously senior vice president at AIR Worldwide.

Lalonde said: “I am thrilled to be joining Guy, who has been hard at work formulating these concepts for quite some time. We now have developed and refined a process and the tools necessary to make risk transfer and investing efficient and flexible all within one entity operating in the time-tested Bermuda regulatory regime.”

Peter Hughes joins the company as a director of Sequant Re Holdings. Peter is founder and chairman of Apex Fund Services, one of the world’s largest independent fund and private equity administration companies.

Andrew Cooke will assume the position of a director of Sequant Re Holdings. He spent seven years at Lumbermen Mutual Casualty Company as treasurer and manager of a $2.5 billion investment portfolio in addition to his other duties.

Cooke also serves as a director to Corner Market Capital US, a privately held company that provides investment management services. He will help the company navigate the initial growth period and assist in financing activities.