Computershare, an Australia headquartered banking, transfer agent and investor services provider, has acquired expertise in reinsurance and insurance-linked securities (ILS) collateral trusts, having purchased the Wells Fargo US Corporate Trust Business.
The now-former Wells Fargo Corporate Trust team is one of those active in providing trust and collateral related services to the reinsurance and insurance-linked securities (ILS) market.
Insurance and reinsurance trusts are often considered alternative collateral mechanisms and used to guarantee insurance transactions such as reinsurance, collateralized reinsurance, insurance linked securities (ILS) such as catastrophe bonds and large corporate insurance needs, including captive or large deductible plans.
Computershare recently completed its acquisition of the Wells Fargo US Corporate Trust unit, acquiring expertise in reinsurance and ILS collateral trusts in the process.
It’s a large corporate trust business and will now be known as Computershare Corporate Trust, with roughly 2,000 employees based across the U.S. who have transferred to Computershare as part of the acquisition.
Computershare Corporate Trust will operate as a standalone business within the overall Computershare organisation, the company explained.
The team is one of the larger servicers of ILS and reinsurance trust needs, with product-level expertise in helping to set up and administer the collateral related side of ILS transactions.
Computershare’s Frank Madonna has been tasked with leading the migration of and integration of the Computershare Corporate Trust business into the company.
“I want to thank everyone from both parties who has worked so hard to bring this acquisition to completion,” Computershare President and CEO Stuart Irving commented. “This Computershare Corporate Trust business represents our long-term commitment to investment in the corporate trust space, and we look forward to working with our customers to introduce new, technology driven solutions and products.”