XL Catlin hires Montpelier exec for SVP role

XL Catlin, the global re/insurance company, has appointed Daniel Brookman as senior vice president (SVP), alternative capital.

In the newly-created role at XL Catlin, Brookman will report to Craig Wenzel, head of alternative capital, and will coordinate XL Catlin’s alternative capital activities in Bermuda, including oversight of XL Underwriting Managers, which provides key support to XL Catlin initiatives.

Previously, Brookman was head of capital markets at Montpelier Re, where he developed and managed account investment strategies for major institutional investors. He has more than 15 years of experience in the alternative capital industry having previously held senior positions at Barclays Capital, Benfield Advisory and Merrill Lynch’s investment banking division.

XL Catlin’s alternative capital unit was formally launched in 2013 following a long history of innovation in that space. Led by Wenzel, the unit focuses on developing third party relationships and was instrumental in the 2013 launch of New Ocean Capital Management, a Bermuda-based manager under the leadership of Chris McKeown.

Brookman’s initial responsibility at XL Catlin will be assisting New Ocean in its continued build-out of investment opportunities for institutional investors and product design.

“Under Craig’s leadership, we are building a successful platform that enables us to match the right capital to the risk we underwrite at XL Catlin,” said Greg Hendrick, chief executive of reinsurance.

Wenzel added: “We are excited to welcome such an established alternative capital executive to our team. Dan’s hiring is a direct reflection on our ambitions to continue to grow our capabilities in the insurance-linked securities (ILS) and alternative capital space.

“I am confident that Dan will immediately make an impact at New Ocean while enhancing our long-term alternative capital strategy.”