Ex-Cartesian Re exec Hissong joins Essent Reinsurance as President

Joseph G. Hissong has left ILW focused Cartesian Re, a New York and Bermuda based reinsurance-linked asset management firm, to join Essent Group’s Bermudian reinsurance firm as President.

Essent announced today that Hissong has joined the company and will serve as President of Essent’s Bermuda reinsurance company, Essent Reinsurance Ltd.

Hissong was Executive Director at Cartesian Re, an ILS asset manager formerly know as Cartesian Iris that focuses on investment opportunities in industry loss warranties (ILW’s) and similar reinsurance contracts.

He has more than 25 years experience in reinsurance and investment strategy development. Before Cartesian Re, he was Executive Director and Head of Private Equity/Strategic Investments for PartnerRe, where he sponsored PartnerRe’s original investment in Essent.

Essent also announced that Paul C. Wollmann has been named Chief Underwriting Officer of Essent Re.

“We are delighted to have someone with Joe’s background and experience joining Paul and the other members of our Essent Re team. Paul has done a terrific job in getting Essent Re up and running and I look forward to the both of them leading Essent Re into the future,” commented Mark Casale, Chairman and CEO. “Additionally, as the sponsor of PartnerRe’s original investment in Essent, Joe understands Essent’s business, our thoughtful approach to investing in mortgage risk and the opportunity that Essent Re offers our company.”