Catalina Re, the reinsurance arm of legacy and run-off specialist Catalina Holdings, has hired Tom Duggan, a well-known investment analyst who previously had a focus on insurance-linked securities (ILS) among the asset classes he covered.
Duggan has joined Catalina Re this month, January 2021, as a Senior Investment Manager.
Previously, Duggan had been a Senior Vice President of Manager Research and Head of Private Credit at independent investment consultant Redington.
Redington is a UK headquartered investment consultancy that works with some of the largest pension funds and other long-term savings focused institutional investors.
Duggan led the firms focus on insurance-linked securities (ILS) and reinsurance linked investments in his time at the consultancy, advising major investors on the asset class, helping them to understand reinsurance as a source of return and helping to design allocation strategies.
Prior to his time at Redington, Duggan worked as a research analyst at alternative investments specialist Absolute Return Partners LLP.
Catalina has entered into thirty acquisitions and loss portfolio transfers in its time, covering reserves estimated at around $9 billion.
That’s a significant portfolio of assets to manage, so Duggan’s experience in alternative asset classes and private credit will be beneficial there.
But increasingly legacy and run-off specialists are also looking to third-party capital and relationships with the kind of institutional investors that find access to insurance-linked securities (ILS) and reinsurance-linked returns attractive. So here Duggan’s expertise in the ILS asset class may come in useful as well.