AlphaCat Managers, the third-party reinsurance capital management and insurance-linked securities segment of Bermudian insurance and reinsurance group Validus Holdings, has hired an ILS and third-party capital analyst from Hiscox.
Cornell Fox joined AlphaCat Managers in August, taking on an analysts role with a focus on insurance-linked securities portfolios. AlphaCat includes third-party capital managed within ILS funds and sidecars, and Fox’s experience at Hiscox makes him well suited for the role.
Fox had been with Hiscox since 2007 when he joined as an intern, working his way up through reinsurance claims and catastrophe modelling into a role in the firms reinsurance operations where he worked on third-party capital initiatives such as the administration of quota shares and premium settlements.
Validus has steadily built out its AlphaCat Managers ILS team and raised $219.4m of third-party capital as subscriptions for its AlphaCat ILS funds at the start of 2013. It also manages AlphaCat branded sidecars, raising $185m for its AlphaCat 2013 sidecar vehicle.
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