New RFIB life reinsurance unit to help clients access capital markets

by Artemis on May 20, 2015

International and Lloyd’s specialist insurance and reinsurance broker RFIB Group Limited has launched a new life reinsurance unit, with part of its remit being to assist life insurer clients to access capital markets sources of life reinsurance capacity.

Life reinsurance is a totally new offering for the broker, and the new unit is being launched with the help of new hires Michael Crawcour, who will take the role of Divisional Director of Life Reinsurance and Valentine Stockdale as Account Executive.

The new unit will offer vanilla life reinsurance products to clients, along with annuity and financial reinsurance. It will also have a focus on helping life insurer clients to access the capital markets as a source of risk capital.

With demand for access to reinsurance remaining high in the capital markets and from insurance-linked securities (ILS) funds and managers, access to life risks is seen as a diversifier for some. Life insurers also benefit from access to more efficient forms of capital for transfer of mortality and other life risks, as well as life transactions focused on regulatory capital needs or unlocking the embedded value of life portfolios.

Michael Crawcour joins RFIB bringing three decades of experience in the life insurance and reinsurance market to the firm. Crawcour previously served as Divisional Director at BMS where he was responsible for the launch and development of its Life Reinsurance Division, prior to which he worked at CT Bowring Re.

Crawcour brings experience of life reinsurance transactions that can utilise capital markets or ILS sources of capacity, including Regulation XXX or AXXX type transactions, mortality risk transfer and life embedded value. With a wealth of contacts on the primary life insurer side, Crawcour will hope to bring a pipeline of deals to RFIB, many of which could be suitable for capital markets or ILS investor participation.

Jonathan Turnbull, Chief Executive Officer of RFIB, said on the launch of the life reinsurance unit; “I am very pleased to announce the launch of our new Life Reinsurance proposition. Our focus is on differentiating ourselves by developing specialist expertise in niche areas combined with our commitment to providing a bespoke responsive service. We will continue to diversify our offering by recruiting individuals who share this ethos and who’s knowledge and market experience mark them out from their peers. Michael’s appointment is a clear example of this strategy in practice. His vast knowledge of the Life Reinsurance sector and career-long focus on client service makes him the ideal candidate to spearhead our new unit .”

Michael Crawcour commented; “I am delighted to join RFIB to launch its new Life Reinsurance unit. There is a clear demand in this sector for innovative, bespoke risk transfer solutions and with RFIB’s reputation for service and expertise, I am confident that we will be able to furnish this demand and establish ourselves as a leader within this market.”

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