Ledger Investing, the insurtech and insurance-linked securities (ILS) focused venture-backed company, has announced the addition of industry veteran Peter Hancock to its board of directors.
Hancock, previously the President and Chief Executive Officer (CEO) of AIG, has had a distinguished career in banking, insurance, and capital markets.
Prior to his time with AIG, he served as JP Morgan’s Chief Financial Officer (CFO) and Chief Risk Officer (CRO), after two decades leading Fixed Income and Derivatives businesses.
Samir Shah, Ledger co-founder and CEO, commented: “We are very fortunate to have Peter providing guidance on our board as we fundamentally reshape the value chain that connects insurance risk to investors.
“Peter’s deep insurance and capital markets experience and ability to draw insight from a range of additional disciplines are exactly what Ledger needs at this point in its expansion. We are excited and grateful to engage with Peter as we continue to grow the insurance securitization market.”
Hancock added: “I am excited to help Ledger Investing streamline the distribution of insurance risk transparently to investors who are seeking efficient means of diversification.
“I have contemplated the potential for securitization of insurance risk for almost 25 years, and I am delighted to have found the right platform to deliver a significant expansion of the asset class. Samir has assembled a first-class team that combines deep insurance industry knowledge with creative product development and technical acumen.”
Additionally, Ledger has also hired experienced ILS market executive, Rajiv Punja, as its Chief Investment Officer (CIO), based in New York.
Punja had most recently served as the CEO and Founding Principal of Lloyd’s syndicate Arcus 1856, which is backed by Credit Suisse Insurance Linked Strategies.
Prior to this, Punja worked at Credit Suisse Insurance Linked Strategies as a Vice President, underwriting re/insurance risks globally in property – catastrophe, crop, energy, cyber, and aviation markets.