American International Group (AIG) has announced that Paschal Brooks has taken on the role of Chief Executive Officer (CEO) of AlphaCat Capital Inc., an AIG subsidiary that provides investment advisory services to the insurance-linked securities (ILS) space.
Brooks’ appointment is effective April 1st, 2020 and he reports to Chris Schaper, CEO of AIG Re, the reinsurance business division of AIG.
In this role, Brooks oversees the implementation of AlphaCat’s ILS strategies, which provide capital markets investors with the opportunity to earn returns based on private reinsurance arrangements and catastrophe bond transactions with low market correlation.
Prior to his appointment as CEO, Brooks served as AlphaCat’s Chief Operating Officer (COO). He joined AlphaCat in 2011 and during his time with the firm has held numerous positions, including Portfolio Manager, Managing Director and Head of Non-Investment.
He has previously served as Vice President in the structured finance group at Goldman, Sachs & Co. and research analyst in the executive office of Alleghany Corporation.
Schaper commented: “I look forward to Paschal’s leadership of AlphaCat. His deep experience and outstanding reputation ensures that AIG will continue to deliver value and critical expertise to clients and investors in the ILS market.”