Seth Ruff, Head of Structured Reinsurance at Howden Tiger, the reinsurance arm of international re/insurance broker Howden Broking Group, has assumed the additional role of Head of Legacy.
Furthermore, the Legacy and Investment Banking divisions have come under common management, reporting to Jarad Madea, CEO, Howden Tiger Capital Markets & Advisory (HTCMA).
Madea, CEO, HTCMA, commented: “The Legacy and Investment Banking teams have a long history of collaboration, with more than 25 recent projects where together we explored a range of solutions from M&A to capital raising and sidecar formation to legacy reinsurance solutions. These projects revealed the powerful, complementary nature of our combined team.”
Ruff added: “It has been clear for some time that the teams operate in the same marketplace, but with different tools. Together we will deliver a seamless offering across the full spectrum of capital solutions.”
According to the firm, this new structure will allow Howden Tiger to offer cross-discipline solutions and a range of options for clients, such as the sale of a legal entity versus the purchase of a reserve cover.
This, the firm adds, represents a significant step in Howden Tiger’s strategy to align its expertise and experience.
Rob Bredahl, CEO, Howden Tiger, said: “This is a simple case of ‘more powerful together.’ This combination allows us to bring even more horsepower to our clients at the intersection of capital and risk.”
Howden Tiger’s Legacy division consists of a team of experienced brokers and actuaries in the US and London who advise clients in the design and execution of Loss Portfolio Transfers, Adverse Development Covers, Reinsurance to Close (RITC), Part VII transfers and other Insurance Business Transfer transactions.
Now that the Legacy and HTCMA teams have combined, it comprises over thirty professionals across offices in New York, London, and Minneapolis.
