ILS Capital branches into speciality business
ILS Capital Management, the Bermuda investment management company specialising in ILS, has hired a specialty reinsurance team.
Subject to Bermuda immigration approval, Brian Gulbransen and William Mulcahy will join the firm in July.
The company has also said that from October this year, in addition to property-catastrophe reinsurance, it will be investing in specialty reinsurance contacts. These investments will be included in the firm's flagship fund, The 1609 Fund.
Additionally, the firm will offer managed accounts with specialty reinsurance investments to institutional investors.
ILS Capital will be the among the first investment managers to make specialty reinsurance available to institutional investors.
“Specialty reinsurance was a significant contributor to my previous companies’ success, and I believe it will be a key contributor to our portfolio’s returns,” said Chairman and CEO Don Kramer.
“I am excited to be able to offer specialty reinsurance to institutional investors and to work with Brian and William again. They are highly regarded insurance professionals that have a strong understanding of the specialty reinsurance market and I am pleased that they have decided to join us.”
Gulbransen will be the chief underwriter and a member of the firm’s investment committee. He will be responsible for ILS Capital’s specialty reinsurance portfolio. Mulcahy will serve as chief actuary and a member of the firm’s investment committee.
Prior to joining ILS Capital, Gulbransen served as chief underwriter of marine, energy and aerospace at Ariel Reinsurance. Before that, he was the chief underwriter of marine, energy and aerospace with White Mountains Underwriting
Mulcahy previously worked at Securis and, prior to that, was chief actuary at Ariel Re. Prior to joining Ariel Re, he was chief actuary of White Mountains Underwriting and LaSalle Re.
