SRS aims to expand ILS influence with appointment

Leading captive insurance company manager Strategic Risk Solutions has beefed up its efforts to expand its insurance linked securities business with the hiring of Charles “Chuck” Scherer (pictured) in its Bermuda office.

Scherer will be senior vice president for ILS and will report to Jonathan Reiss, chairman of SRS Bermuda. The company said he will be responsible for further expanding SRS’ growing influence in the ILS sector.

Reiss said: “Chuck has a proven track record of developing ILS products across both property & casualty and life sectors, especially with respect to structuring and licensing catastrophe bonds, transformers, sidecars, and life insurance securitisations.

“Chuck also has considerable experience managing captives and commercial insurance and reinsurance clients in both Bermuda and the United States. His breadth of experience and versatility will be a huge asset to our growing team at SRS.”

Prior to joining SRS, Scherer served as controller for a Florida-based surety insurance company. Before that he was SVP, ILS at Aon Bermuda where he spent seven years dedicated to the ILS sector. Prior to that he was a vice president at Marsh USA, managing special purpose financial captives and commercial insurance clients.

Scherer said: “I have long admired SRS’ independence and dedication to client service, and I noticed their commitment to the ILS sector which fits perfectly with my experience. I am excited to have this opportunity in a dynamic and growing business."