Industry veteran launches ILS-focused reinsurer
Bermuda’s Sequant Re Holdings has launched a new global reinsurer which combines insurance-linked securities (ILS) and a segregated account structure.
Sequant Reinsurance Company (Sequant Re) is a Class 3 reinsurer which will offer a flexible platform for the transfer and securitisation of insurance risks.
Guy Cloutier, Sequant Re’s CEO and founder, said the aim of the new platform is to make it easier for issuers and investors to use this form of risk transfer.
“Innovation in platforms and products is the biggest opportunity in ILS,” said Cloutier. “Our goal is to lower barriers for investors and expand the reach of risk transfer and securitisation solutions. ILS makes it possible for anyone to transfer risks to investors willing to accept them. Sequant Re provides an efficient platform for matching capital with risks.”
The venture has also announced new hires. David Lalonde joins the company as chief risk and underwriting officer of Sequant Re. He was previously senior vice president at AIR Worldwide, where he spent 19 years leading various teams, including consulting, capital markets and decision analytics.
Lalonde said: “I am thrilled to be joining Guy, who has been hard at work formulating these concepts for quite some time. We now have developed and refined a process and the tools necessary to make risk transfer and investing efficient and flexible all within one entity operating in the time-tested Bermuda regulatory regime.”
Peter Hughes joins the company as a director of Sequant Re Holdings. Peter is founder and chairman of Apex Fund Services, one of the world’s largest independent fund and private equity administration companies.
Andrew Cooke will assume the position of a director of Sequant Re Holdings. He spent seven years at Lumbermen Mutual Casualty Company as treasurer and manager of a $2.5 billion investment portfolio in addition to his other duties.
Cooke also serves as a director to Corner Market Capital US, a privately held company that provides investment management services. He will help the company navigate the initial growth period and assist in financing activities.
