Somerset Re hires structured reinsurance head

Based in Bermuda, Smith will set client strategy for the structured reinsurance line and lead reserve and capital financing transactions, embedded value securitisations, sidecars and retrocessions. He will report to Somerset chairman and chief executive Jeff Burt.

Smith was SCOR Global Life’s global head of financial solutions in London and head of group corporate finance and treasury for SCOR SE in Paris before that. He began his reinsurance career in 2004 with AEGON/Transamerica Life Reinsurance before its purchase by SCOR in 2011.

With a background in investment banking, technology and private equity, Smith co-founded Wafra Partners, the private equity arm of Wafra Investment Advisory Group, Inc. in New York.

Burt said: “Chris brings a wealth of experience in insurance and capital markets, as well as innovative problem solving and creativity that will be valuable to Somerset and its clients.  I look forward to welcoming Chris to the team and working closely with him as we design tailored solutions to insurers of all sizes and complexity.”