Blackstone recruits global head of Blackstone Insurance Solutions
Investment firm Blackstone has appointed Gilles Dellaert as the global head of Blackstone Insurance Solutions (BIS). He was formerly co-president and chief investment officer of retirement and life insurance company Global Atlantic.
Blackstone Insurance Solutions was formed in 2018 to deliver Blackstone’s asset management expertise to the insurance industry. Leveraging Blackstone’s platform, BIS investment products are tailored to each individual insurer’s needs. In total, Blackstone manages over $60 billion in assets for insurance companies.
Jon Gray, Blackstone president & COO, said: “Gilles is a highly talented executive with deep experience in the insurance and investment management industries – making him an ideal choice for this position. We look forward to the unique set of skills he’ll bring to the table for our clients and insurance business, which is an important growth initiative for Blackstone.”
Tony James, Blackstone executive vice chairman, added: “We are excited to welcome Gilles to Blackstone as we continue to grow our insurance business and serve more clients around the world. The low-interest-rate environment is creating challenges for the insurance industry. The customised, high-performing products and services Blackstone offers can be an important part of the solution.”
Dellaert will start at Blackstone on April 1, 2020. The BIS platform will operate under David Blitzer, global head of Blackstone’s tactical opportunities business.
Gilles Dellaert said: “Blackstone’s extensive range of offerings across the investment spectrum and access to substantial pools of equity capital make it an ideal partner to the insurance industry. The products Blackstone can deliver provide compelling risk-adjusted performance that helps insurers grow faster and keep their promises to customers. I look forward to helping Blackstone accomplish this mission for the benefit of insurers and their policyholders.”
As co-president of Global Atlantic, Dellaert served as chairman of the investment committee and chief investment officer, with responsibility for investment and reinsurance activity across the life and annuity businesses. He previously worked in Goldman Sachs’ securities division credit trading and reinsurance businesses. Prior to his time at Goldman Sachs, he spent two years with JPMorgan in Brussels, London and New York.
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
Lloyd’s PMD Jon Hancock to step down this year as new CHRO unveiled
Chubb estimates Q4 2019 global net cat loss at $430m pre-tax
Sellek resigns as R&Q executive director and joint CEO
HCI Group Insurance subsidiary to acquire policies from P&C insurer Anchor
Ed Bermuda continues expansion with divisional head hire
Tysers invests in Helix Underwriting Partners
DARAG concludes reinsurance transaction with Lloyd’s syndicate
Arc Legal appoints new commercial director
