Bermuda headquartered insurance and reinsurance specialist Arch Capital Group has hired Ed Jordan, who previously worked at Tokio Millennium Re with a focus on alternative capital, to the role of Portfolio Manager at its reinsurer Arch Re.
Ed Jordan has joined Arch Re this month (July 2019) after 17 years working for Tokio Millennium Re AG (TMR) in Bermuda.
The company confirmed to us that Jordan will be working as a Portfolio Manager working on ILS initiatives.
Jordan had previously held the role of Head of Bermuda for Tokio Millennium Re, before moving position in 2015 to become the head of its Capital Solutions unit.
The Capital Solutions unit at TMR was focused on developing new capital markets products, to better bridge the gap between capital market investors and insurance-linked securities (ILS) funds with insurance or reinsurance risks.
As a result, Jordan has a significant amount of experience and knowledge of solutions for helping alternative capital investors and ILS funds access reinsurance risks.
This is particularly relevant given Arch has launched its own efforts to target the fronting for ILS space within its reinsurance business Arch Re, as it aims to replace the gap in the market left behind by the exit of Jordan’s previous employer Tokio Millennium Re from this space.
TMR left the fronting for ILS space after its acquisition by Bermudian reinsurance firm RenaissanceRe, which had no desire to continue that element of the TMR business.
Arch has been steadily building an ex-TMR led team to deliver on services to assist ILS investors and ILS funds in accessing insurance and reinsurance risks.
Now in hiring Jordan they have another senior hire from TMR who has significant experience working at the intersection of reinsurance and capital markets.