Sirius International Group, the Bermuda-based reinsurance unit of White Mountains Insurance Group, has formed a dedicated team to target the Insurance Linked Securities (ILS) reinsurance capital markets convergence arena.
The new initiative will be jointly led by Michael Halsband in New York and Deanne Nixon in Bermuda, both of whom will report to Allan Waters, president and CEO of Sirius Group.
Michael Halsband joins the Sirius Group from Deutsche Bank where he led the firm's P&C Insurance Solutions practice, most recently as director in the Capital Markets and Treasury Solutions Group.
Previously, he was a vice president at Goldman Sachs in the Financing Group where his responsibility included origination, structuring and marketing of sidecars, cat bonds and other insurance securitisations. Halsband has more than 23 years’ experience in banking, law and re/insurance.
Nixon joined the Sirius Group in 2003 and brings more than 23 years’ underwriting experience in the re/insurance industry to this role. She was most recently senior vice president for Sirius International Insurance Corporation's Bermuda branch where she held core responsibilities for the company's US property catastrophe, retrocessional, ILW and Cat Bond assumptions.
"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,” said Waters.
“This strategic initiative leverages White Mountains' and Sirius Group's extensive successes in both capital markets executions and property casualty underwriting. The Sirius ILS team will provide their deeply knowledgeable experience and wisdom to our current and new partners who wish to access this rapidly developing market."
Sirius Group, ILS, White Mountains Insurance, Reinsurance, Capital Markets Convergence, Michael Halsband, New York, Deanne Nixon, Bermuda