Hannover Life Reassurance Company of America (HLR), the North American life and health reinsurance subsidiary of Hannover Re Group, has hired Keith Kennerly as Vice President, Structured Health & Financial Solutions, an experienced ILS sector exec.
Kennerly, who actually joined HLR effective 24th February 2014, has a strong background in capital markets reinsurance activities and insurance-linked securities (ILS). Most recently Kennerly was a Managing Director at Aetna Inc. and worked on capital markets initiatives including the health insurers Vitality Re medical benefit claims ratio linked ILS transactions.
Prior to his time with Aetna, Kennerly worked for Paladin Strategic Partners and before that was a Senior Banker with Barclays Capital (formerly Lehman Brothers). Kennerly spent most of his career with Barclays Capital as a Liquidity Manager focusing on structuring, marketing and executing large financing transactions for non-liquid and mortgage related assets, providing short-term liquidity solutions as well as long-term securitizations for the Firm and its Prime Brokerage Clients.
In his new role, based from the HLR New York office, Kennerly will be responsible for sourcing and originating new health financing opportunities for HLR America.
Kennerly will likely focus on ways to bring his experience in ILS and capital markets to HLR’s client base, helping the firm to leverage new structures and new sources of capital within its product offering. It will be interesting to see whether HLR begins to look at securitization through ILS for its own reinsurance and retrocessional needs as well.
Jeff Burt, Executive Vice President, Financial Solutions commented on the appointment; “We are excited to welcome Keith to our team and look forward to his contributions to the Company.”