Sirius to launch ILS unit

Sirius, the Bermuda-based reinsurance unit of White Mountains, has formed a dedicated team to lead strategic initiatives in the ILS and reinsurance capital markets convergence area.
The initiative will be led by Michael Halsband, formerly of Deutsche Bank, in New York and Deanne Nixon in Bermuda.
Allan Waters, president and CEO of Sirius Group and the team’s supervisor, commented: “capital markets participation in the property catastrophe risk arena is growing rapidly, changing the face of what has historically been one of the most profitable sectors in the traditional reinsurance business. This strategic initiative leverages White Mountains’ and Sirius Group’s extensive success in both capital markets executions and property casualty underwriting. The Sirius ILS team will provide their deeply knowledgeable experience and wisdom with our current and new partners who wish to access this rapidly developing market.”