Andre Perez, a veteran re/insurance executive marks his return to the insurance industry by launching Nascent Group.
Nascent Group is an independent, technology-driven service provider to the financial industry.
Perez will be the Chairman and CEO of the Nascent Group. He will be joined on the Board by Horseshoe co-founder and industry veteran Nigel Godfrey as well as Alison Morrison, founder of Bermuda Compliance Consultants.
The Bermuda Monetary Authority has approved the group to license two subsidiaries, Nascent Insurance Management Ltd. as an insurance manager and Nascent Re Ltd. as a reinsurance transformer. The companies are licensed to operate in Bermuda and will eventually seek licenses in other offshore jurisdictions and the United Kingdom.
The launch of Nascent Group comes approximately one month after Perez announced the establishment of the H2 Group, an ILSfocused technology company.
Perez was the founder and CEO of the Horseshoe Group, which was the largest ILS service provider when it was acquired by Artex Risk Solutions in 2019.
Perez commented on the formation of the company, “While these two companies will remain autonomous, their partnership in developing a technology-driven insurance service provider is pretty powerful and will allow for rapid adaptation in satisfying investor needs. Not only will we have access to leading-edge technology through H2 Group, but our deep experience at Nascent will utilize that technology to vastly improve our ability to be an agile, value-adding service provider.”
Licensing H2’s RUDDR, which is a state-of-the-art policy management system, shows how the two companies will be working together in partnership.
We cannot afford to remain complacent while developing technology, which is going to become a game changer for the group and the financial service industry, paraphrased Perez.
Nascent Group aims to create a new breed of best-in-class service providers. These providers will use emerging technology to reimagine the ILS servicing space and restore investor confidence while doing so.
While Nascent Group’s initial focus will be on the ILS sector, it plans on expanding its services to insurance, traditional reinsurance, MGA/MGU’s, captives, and fund administration.
