XL Catlin Names Brookman Sr. VP, Alternative Capital, in Newly Created Role

XL Catlin has appointed Daniel Brookman as senior vice president, Alternative Capital, a newly created role.

Brookman was previously head of Capital Markets at Montpelier Re Holdings Ltd. where he developed and managed account investment strategies for major institutional investors.

Brookman has more than 15 years of experience in the alternative capital industry, having previously held senior positions at Barclays Capital, Benfield Advisory and Merrill Lynch’s investment banking division.

XL Catlin’s alternative capital unit was formally launched in 2013. Led by Craig Wenzel, head of Alternative Capital, the unit is focused on developing third party relationships and was instrumental in the 2013 launch of New Ocean Capital Management Ltd., a Bermuda-based manager under the leadership of Chris McKeown. New Ocean invests in reinsurance risk products on behalf of third party investor capital.

Greg Hendrick, chief executive of Reinsurance at XL Catlin, commented: “Under Craig’s leadership, we are building a successful platform that enables us to match the right capital to the risk we underwrite at XL Catlin.”

Brookman will report to Wenzel and will coordinate XL Catlin’s alternative capital activities in Bermuda, including oversight of XL Underwriting Managers Ltd., which provides key support to XL Catlin initiatives. Brookman’s initial responsibility will be assisting New Ocean in its continued build-out of investment opportunities for institutional investors and product design.

Wenzel commented: “We are excited to welcome such an established alternative capital executive to our team. Dan’s hiring is a direct reflection on our ambitions to continue to grow our capabilities in the ILS and alternative capital space. I am confident that Dan will immediately make an impact at New Ocean while enhancing our long-term alternative capital strategy.”

Source: XL Catlin

Topics AXA XL