Tangency Capital Ltd. is a new insurance-linked securities (ILS) start-up venture that has been founded by three experienced ILS and reinsurance convergence focused executives and will focus on helping its investors to access opportunities in insurance and reinsurance, from offices in Bermuda and London.
The three founding members of Tangency Capital Ltd. are well-known in the insurance-linked securities (ILS) and reinsurance convergence space, with each bringing their own experience and skills to the start-up.
Kai Morgenstern, formerly of RenaissanceRe is one of the founders. Morgenstern had worked with RenRe for some years, leading their capital markets risk transfer activities with a focus on the reinsurance firms joint-venture vehicles, third-party capital and ILS investor facing activities.
Dominik Hagedorn is another of the co-founders of Tangency Capital. Hagedorn had spent over three years in the Financial Institutions group at Deutsche Bank, where he worked on ILS related activities. Prior to that he had worked at UBS, but began his career with Munich Re focusing on reinsurance capital markets transactions.
Michael Jedraszak is the third co-founder. Jedraszak was most recently the Chief Investment Officer for ILS at Hiscox and had helped to develop the ILS business at the re/insurer. Prior to his ILS focused work at Hiscox, Jedraszak had been Head of International and Agriculture Reinsurance at the firm, prior to which he had underwritten international specialty lines.
Tangency Capital is still in the process of setting up its operations, but once up and running will aim to manage capital for its third-party investors and invest it in insurance and reinsurance linked opportunities.
The co-founders of Tangency Capital told Artemis that they aim to offer clients a differentiated opportunity in the ILS market, although details of this are currently under-wraps while the start-up completes its set-up phase and establishes itself in the market.
The co-founders told Artemis, “We see opportunities in the market that are currently underserved by the existing fund community and will aim to tap into those areas.”
The co-founders have quite the ILS sector pedigree between them, meaning their contacts and access to underwriting business will be strong, as well as their ability to source discussions with potential investors.
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