Private equity backed reinsurer Southport Re, which writes much of the reinsurance coverage it provides on a fully collateralized basis, has announced the hire of Brandon Young as Chief Operating Officer of the reinsurer and also Senior Vice President of its parent private equity firm Southport Lane.
In the role, Young will play a key role in Cayman Islands based reinsurer Southport Re’s core business. His responsibilities will include executing and overseeing acquisitions, developing general business strategy and supporting large reinsurance transactions. He will report directly to Glenn Weber, CEO of Southport Re.
Young brings strategic experience to Southport Re as well as a knowledge and understanding of the insurance-linked securities (ILS) space from his previous roles. With Southport Re executing much of its, mostly casualty, business on a fully-collateralized basis his experience will be a good fit at the firm.
Young has close to 20 years of experience across the insurance, reinsurance and capital market securities industries. Before joining Southport Re, Young served as Vice President of Global Corporate Development at ACE, where he was responsible for identifying, analyzing and executing potential acquisitions, joint ventures and business alliances, as well as working with executive management in the ongoing review and development of corporate strategy. At ACE, Young executed a large number of acquisitions across five continents.
“Brandon’s knowledge and expertise of the industry is essential as we look to acquire high-value, established insurance companies,” said Weber. “Southport Re’s mission is to work with organizations that can provide long-term value to our shareholders and Brandon will be crucial in helping us achieve this goal.”
Before his time at ACE, Young was a Senior Equity Research Analyst at Bear Stearns & Co. covering the U.S. non-life insurance sector. Prior to that, he began his career at Marsh Inc. serving large domestic and multinational clients in its alternative risk finance group before transferring to its related specialty broker/dealer, where he focused on M&A advisory and risk-linked securities and ILS activities.
“I am excited to be a member of Southport Re’s leadership team as we continue to develop and expand the risk and capital management solutions we provide to our clients, both organically and through acquisitions,” commented Young.