Reinsurance and risk intermediary Benfield has created a dedicated capital markets unit within Benfield Advisory, its specialist corporate finance and advisory business.
The new unit will be led by Michael Steel in London, in conjunction with Edward Torres and Ron Collins in New York. It will handle non-traditional risk transfer solutions including sidecars, catastrophe bonds, industry loss warranties (ILW), collateralised reinsurance, derivatives and other indexed linked securities. It will also manage a dedicated ‘ILW Desk’ to enhance the group’s offering in this growing market.
The Capital Markets Division will operate alongside Benfield Advisory’s existing Corporate Advisory Division, which offers strategic advice on corporate transactions including mergers and acquisitions, management buy-outs and capital raising. The Corporate Advisory Division is led by Tristan McDonald in London and Scott Maries in New York.
At the same time, Mike Cain has been appointed as chief operating officer and general counsel for Benfield Advisory. Mike joins from Benfield’s Legal team where he was also Head of Company Secretariat.
Source: Benfield
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