Brit-backed Sussex taps ex-Aon/Validus hires to support expansion in ILS market
Specialty re/insurer Brit has made two senior hires, formerly of Aon and Validus/AlphaCat, to support the expansion of its Bermuda-domiciled collateralised reinsurance platform Sussex Capital.
Sussex Capital is Brit’s ILS investment platform launched in 2017 and is backed by the Fairfax Group.
Cornell Fox joins Sussex as head of investor relations and business development, while Masa Kitade joins as head of business development for Asia.
As the Brit-backed ILS vehicle looks to capitalise on growth opportunities, Fox will focus on leading its fundraising, investor relations activity, and helping to develop the platform and deliver on its strategy.
Leading business development in the Asia region, Kitade will play a pivotal role in developing the Sussex Capital platform in Japan and Asia more broadly, driving investor relations and managing and implementing the vehicle’s strategy across the continent.
Fox joins from Bermuda-based Peak Capital (formerly Lutece Investment Management), where he was head of investor relations. An ILS specialist, he has also held roles with Validus Holdings and AlphaCat Managers. Prior to his move into the ILS sector, Fox worked with property catastrophe reinsurance at Hiscox.
Kitade joins Sussex with over 25 years of experience spanning the reinsurance and finance sector. He brings specialist ILS knowledge and expertise, having previously held roles as chief marketing officer at Mercury Capital Ltd and CEO of Eastpoint Asset Management. He has deep expertise in the Asian insurance market, having served as regional director and head of Japan business for Aon Asia.
Chris Denton (pictured), managing director of Sussex Capital, said: “Sussex Capital has an ambitious expansion strategy and significant potential within the ILS market. We are delighted to welcome Masa and Cornell to the team as we continue to grow the portfolio and drive the business forward.”
Fox commented: “In just under five years, Sussex Capital has established itself as a well-respected ILS platform in the market. With significant demand from investors across the globe for diversifying asset classes, I look forward to working closely with the team to capitalise on this potential, bringing the platform to an even greater number of investors.”
Kitade added: “Offering investors access to Brit’s industry leading expertise, solutions and client base, I’m looking forward to broadening Sussex Capital’s presence across the Asian market, enabling the region’s ILS investors access to one of the most innovative and highly regarded platforms within the market.”
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