CATCo appoints two directors of underwriting

CATCo Investment Management, the specialist insurance linked securities manager, has hired two underwriters who have both previously worked for AQR Capital Management and Magnetar Capital.

Charles Vaughan and Richard Montgomerie have joined as directors of underwriting. Both have extensive reinsurance underwriting experience, 37 and 30 years respectively, and the company said through their global contacts within the reinsurance sector will bring considerable value to CATCo's existing underwriting process.

Prior to joining CATCo, both were members of the reinsurance team  for asset managers AQR Capital Management and Magnetar Capital.

Both will be based in London and will report to Anthony Belisle, chief executive officer, and Jason Bibb, chief operating officer.

Tony Belisle, chief executive officer of CATCo Investment Management, said; “CATCo’s priority is to bring solutions to our reinsurance counterparties while at the same time delivering attractive returns to our investors. To deliver on these objectives requires having the strongest underwriting capability available in well diversified strategies.

“With their depth of knowledge, Charles and Richard bring exceptional levels of expertise, as well as proven track records, which will combine seamlessly with CATCo’s existing underwriting team. These appointments demonstrate our continued commitment to hiring high quality people who can help enhance our reinsurance product and investment fund offering.”

Vaughan and Montgomerie jointly said: “In a short space of time CATCo has become an established manager in the reinsurance space with highly professional people and a strong brand. The senior management has built a very impressive team and product range in a relatively short period of time. The company has the right leadership with a strong vision to meet the changing needs of the market, so we are very excited to be joining the firm at this time and we look forward to working with our new colleagues in the months and years ahead.”