Legeis Capital, a newly introduced company that provides re/insurers with efficient access to higher-returning investment assets, has named Michael Morrissey chairman of its board.
Legeis Capital has been established to provide a capital-efficient form of investment to re/insurance firms and focuses on lower risk mechanisms to access the returns of asset classes, that include public equities and private funds, as well as alternatives.
The company achieves this by making the investment possible with as low a capital charge as possible.
Morrissey has secured a reputation as an accomplished insurance investment banker and fund manager over the course of his career.
He previously served as president and Chief Executive Officer of the International Insurance Society (IIS) and is a board member at Selective Insurance and Protective Life.
Prior to his 11 year stint at IIS, Morrissey was chairman, Chief Executive Officer, and Chief Investment Officer of Firemark Investments.
Commenting on the appointment, Legeis Capital founder and CEO Michael Siegel said, “We are pleased to have Mike lead our Board of Directors.
“He is a strategic business leader and accomplished director. His distinguished career of over 40 years leading global insurance firms and asset management businesses brings unique experience that will benefit Legeis Capital significantly.”
“Mike brings extensive insurance industry and asset management experience to our board,” said Joseph Taussig, director.
“He will further strengthen our firm’s considerable talent and experience and we are confident in the contributions and value his leadership will bring to our company.”