Mt Logan Re COO joins Allianz's PIMCO in senior ILS role

Pacific Investment Management Company (PIMCO), the asset management company owned by Allianz, has appointed Michael Beck as senior vice president, ILS portfolio management.

On his LinkedIn page, Beck is said to have started the role in April, and is based in New York.

Beck has over 30 years of experience in the re/insurance market, and previously served as chief operating officer at Mt Logan Re, the reinsurance sidecar of Everest Re. Herem he was responsible for all operating activities for the ILS manager having in excess of $1b of assets under management, as well as for enterprise risk management activities.

Prior to that he was deputy chief underwriting officer, global property, at AIG Property & Casualty. He has also held roles at PartnerRe, Quanta US Holdings, Swiss Re, Zurich, and General Re.

Beck's appointment follows two recent Bermuda hires - Vijay Manghnani as senior vice president, head of risk and analytics, and Juan Prado as senior vice president, ILS finance and operations.

PIMCO, which has around $1.8 trillion of assets under management, is seeking greater participation in the ILS sector through its newly established business, which is headed up by Rick Pagnani, the former chief executive of Mt Logan Re, who was hired in early 2019.