SRS beefs up ILS efforts with ex-Aon hire

Strategic Risk Solutions (SRS), an independent insurance company manager, has bolstered its efforts to expand its insurance-linked securities (ILS) business in Bermuda.

SRS has hired Charles Scherer (pictured) as a senior vice president – ILS, based in its Hamilton, Bermuda office.

Reporting to Jonathan Reiss, chairman of SRS Bermuda, Scherer will be responsible for further expanding SRS’ growing influence in the ILS sector.

Scherer has 20 years of experience in the financial services and insurance sectors. Prior to joining SRS, he served as controller for a Florida-based surety insurance company. Before that he was SVP, ILS at Aon Bermuda where he spent seven years dedicated to the ILS sector. Prior to that he was a vice president at Marsh USA, managing special purpose financial captives and commercial insurance clients.

Reiss said: “Chuck has a proven track record of developing ILS products across both property & casualty and life sectors, especially with respect to structuring and licensing catastrophe bonds, transformers, sidecars, and life insurance securitisations.

“Chuck also has considerable experience managing captives and commercial insurance and reinsurance clients in both Bermuda and the United States. His breadth of experience and versatility will be a huge asset to our growing team at SRS.”

Scherer commented: “I have long admired SRS’ independence and dedication to client service, and I noticed their commitment to the ILS sector which fits perfectly with my experience. I am excited to have this opportunity in a dynamic and growing business."

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.