Cedar Trace hires Patrick Witteveen as Head of Business Development

Cedar Trace, the Bermuda-based insurance, reinsurance, and asset management group formerly operating under the Mereo brand, has made another senior appointment to its insurance-linked securities (ILS) platform, hiring Patrick Witteveen as Head of Business Development.

Witteveen has a decade of experience working in business development and investor relations roles within the insurance-linked securities and reinsurance capital markets.

He will join the Cedar Trace ILS team on September 1st, Artemis can report.

Witteveen began his ILS career by spending almost 7 years working at specialist ILS investment manager Securis Investment Partners LLP, where he held the role of Head of Investor Relations and Business Development, Europe.

Following his time at that ILS manager, Witteveen moved to work at AXIS ILS, the insurance-linked securities and third-party reinsurance capital arm of global specialty player AXIS Capital, as its business development lead.

Most recently, he joined Acrisure Re, the reinsurance broking unit of the Acrisure group in 2023, where he joined the Corporate Advisory and Solutions (ARCAS) division, holding the position of Head of Third-Party Capital & Asset Management Solutions (ARCAS).

Prior to moving into ILS and the reinsurance capital markets world, Witteveen had spent a further decade working in business development and marketing related roles for financial services and fixed income firms.

Neil Strong, CEO of Cedar Trace ILS told us, “We’re delighted to add Patrick to the Cedar Trace team. He brings a wealth of experience in business development for insurance-linked securities strategies and is extremely well-connected with both ILS and other institutional investors around the world.”

The hiring of Witteveen comes soon after Cedar Trace made three other senior appointments of well-known executives to its insurance-linked securities (ILS) platform at the start of July.

The company had also recently established a partnership with Austin, Texas based fixed income and alternative solutions manager Sage Advisory Services Ltd. Co., to deliver insurance-linked securities (ILS) enhanced credit opportunities to investors.