Bermuda domiciled reinsurer Somerset Reinsurance has appointed Christopher Smith as Head of Structured Reinsurance.
Smith will be based in Bermuda, and report to Jeff Burt, Chairman and Chief Executive Officer of Somerset.
He will be responsible for setting client strategy for the structured reinsurance line and lead Somerset’s efforts in reserve and capital financing transactions, embedded value securitizations, side cars and retrocessions.
He joins Somerset from SCOR Global Life where he was Global Head of Financial Solutions in London since December 2017.
Prior to that, he was Head of Group Corporate Finance and Treasury for SCOR SE in Paris.
With an entrepreneurial background in investment banking, technology and private equity, Smith began his reinsurance career in 2004 with AEGON/Transamerica Life Reinsurance prior to its purchase by SCOR in 2011.
He was a co-founding partner of Wafra Partners from 1992 to 1999, the private equity arm of Wafra Investment Advisory Group in New York, as well as a cross-border M&A specialist at Lambert Brussels Capital and Kouri Capital earlier in his career.
Burt commented: “Chris brings a wealth of experience, in insurance and capital markets, as well as innovative problem solving and creativity that will be valuable to Somerset and its clients.
“I look forward to welcoming Chris to the team and working closely with him as we design tailored solutions to insurers of all sizes and complexity.”
Smith added: “I am excited to have joined the talented team at Somerset, which has created a client-centric platform which aligns its interests with its diverse client base in a truly unique and intentional manner.
“I look forward to serving both clients and Somerset in transforming their business models, accelerating their balance sheets and optimising their solvency.”