XL Catlin announced today that it has appointed Daniel Brookman as Senior Vice President, Alternative Capital.
Mr. Brookman was previously Head of Capital Markets at Montpelier Re Holdings Ltd. where he developed and managed account investment strategies for major institutional investors. Mr. Brookman has more than 15 years of experience in the alternative capital industry having previously held senior positions at Barclays Capital, Benfield Advisory and Merrill Lynch’s investment banking division.
XL Catlin’s alternative capital unit was formally launched in 2013 following a long history of innovation in that space. Led by Craig Wenzel, Head of Alternative Capital, the unit is focused on developing third party relationships and was instrumental in the 2013 launch of New Ocean Capital Management Ltd. (“New Ocean”), a Bermuda-based manager under the leadership of Chris McKeown. New Ocean’s expertise is investing in reinsurance risk products on behalf of third party investor capital.
Greg Hendrick, Chief Executive of Reinsurance at XL Catlin, commented: “Under Craig’s leadership, we are building a successful platform that enables us to match the right capital to the risk we underwrite at XL Catlin.”
In his newly-created role at XL Catlin, Mr. Brookman will report to Mr. Wenzel and will coordinate XL Catlin’s alternative capital activities in Bermuda, including oversight of XL Underwriting Managers Ltd., which provides key support to XL Catlin initiatives. Mr. Brookman’s initial responsibility will be assisting New Ocean in its continued build-out of investment opportunities for institutional investors and product design.
Mr. Wenzel commented: “We are excited to welcome such an established alternative capital executive to our team. Dan’s hiring is a direct reflection on our ambitions to continue to grow our capabilities in the ILS and alternative capital space. I am confident that Dan will immediately make an impact at New Ocean while enhancing our long-term alternative capital strategy.”
About the XL Catlin Reinsurance Operations
The XL Catlin reinsurance companies are among the world’s leading reinsurers. They offer products that include aerospace, property, casualty, marine and specialty. The world’s top insurers choose XL Catlin to help move their businesses forward. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group plc’s (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.