Acrisure Re, the reinsurance division of worldwide fintech Acrisure, has introduced the appointment of Sandro Kriesch and Patrick Witteveen as Managing Directors of Catastrophe Bond Solutions inside its Corporate Advisory and Solutions (ARCAS) division, efficient instantly.
Kriesch and Witteveen will lead the launch and growth of ARCAS’ complete disaster bond providing, marking a big growth of their companies.
The ARCAS division, which expanded into North America final yr with the appointment of Alex Orloff, operates on a worldwide scale, overlaying scores advisory, capital elevating, legacy transactions, and asset administration.
With the addition of cat bond options to their portfolio, the appointments symbolize a vital step within the group’s ambition to supply an all-inclusive service by one linked group.
Ben Canagaretna expressed his enthusiasm, stating, “I am thrilled with the growth this team has experienced in the last year. It shows ARCAS’ commitment to filling our team with best-in-class talent who have the leadership skills and networks to expand into new areas. The cat bond market is an evolving area with strong fundamentals and increasing opportunity. Sandro and Patrick are the ideal candidates to lead the charge, and we very much look forward to working with them both. This is another great example of Acrisure Re doing its homework and having conviction at the right moment.”
Kriesch brings a wealth of specialized information to ARCAS, having served as a advisor for his personal agency, Kriesch Advisors, the place he supplied advisory companies on cat bonds, the ILW market, and reinsurance start-ups.
Prior to that, he was the COO for IQUW’s ILS division, co-founded Twelve Capital, and labored as an ILS Portfolio Manager at Horizon 21 and as an earthquake underwriter and Solvency II professional at Swiss Re.
Witteveen, with over 20 years of expertise in business growth, third-party capital asset elevating, and institutional gross sales, joins ARCAS from AXIS Capital, the place he served because the Global Head of Business Development for its third-party reinsurance capital administration unit, AXIS ILS.
He beforehand spent seven years at ILS supervisor Securis Investment Partners as a Partner and the Head of Investor Relations & Business Development Europe.
Craig Darling, Acrisure Re Executive Vice President, highlighted the importance of this addition, stating, “The additional product offering of a catastrophe bond further complements and expands our structuring and placement capabilities. The Capital market strategy further diversifies our global market reach in solving market capacity concerns for our North American catastrophe-exposed clientele. This expansive capability has been part of our strategy and represents a continued collaborative effort with the Centre of Excellence for Critical Cat and ARCAS. We are committed to expanding our reach with global investors that will directly benefit the growth aspirations of our existing carriers, MGA clients, and prospects in North America.”
