Ariel Sociedade Seguradora de Propósito Específico S.A. (Ariel SSPE), the insurance-linked securities (ILS) platform in Brazil, has announced that it has appointed Laercio Vicente to its executive team, who brings direct experience in structuring Brazil’s Letras de Risco de Seguro (LRS, Insurance Risk Letters), the country’s unique ILS instrument.
Ariel SSPE recently became Brazil’s third ILS structure, leveraging local regulations to operate as an independent issuer of LRS.
Co-founded by a group of reinsurance and ILS specialists, Ariel SSPE is led by co-founder Aline Meza, who previously worked at reinsurance firm IRB (Re), and spearheaded much of the development of the Andrina SSPE structure and its inaugural LRS issuance.
Now, Ariel SSPE has hired Vicente, who joins Ariel’s executive team with a robust track record spanning insurance, reinsurance, and pensions, alongside deep expertise in actuarial, technical, product, and financial management.
He previously held roles at Itaú Seguros and Terra Brasis Resseguros, and most recently served as statutory director of Andrina SSPE.
During his tenure as a director of Andrina, Vicente was directly involved in Brazil’s historic first-ever ILS issuance, a R$33.7 million deal sponsored by reinsurance firm IRB (Re) to securitize surety bond risks, using its Andrina Special Purpose Insurance Entity (SSPE).
In his new role at Ariel SSPE, Vicente will look to leverage this experience to support Ariel’s mission of expanding risk-transfer capacity across Brazil.
“Laércio’s arrival represents an important step for Ariel SSPE. His experience combines deep technical knowledge with direct involvement in key milestones for the LRS market in Brazil,” commented Meza.
“Ariel SSPE is an independent company, formed by professionals who have always believed in a new model of risk transfer as a way to expand the capacity of the Brazilian insurance market, while also creating a compelling investment option for the capital markets. I am motivated and happy to be part of this project, and to contribute to expanding this solution in Brazil,” Vicente added.
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