Hiscox Re ILS, the reinsurance and insurance-linked securities (ILS) arm of global re/insurer Hiscox Group, has added a new portfolio manager to its ILS investment team recently, hiring Aaron Garcia from London re/insurer Novae Group.
Garcia officially joined the Hiscox Re and ILS investment team as a portfolio manager in September 2017.
He spent five years at Novae as an international property treaty underwriter, based in both Zurich and Bermuda. Prior to that, Garcia worked as a reinsurance broker at JLT Group in London.
In the portfolio management role Garcia will report to Matthew Swann, and working as part of the ILS investment team in Bermuda, he will have responsibility for underwriting reinsurance business into the funds managed by Hiscox Re ILS.
Swann commented on the hiring of Garcia, “Aaron brings a strong technical underwriting skillset that is core to our investment philosophy, and we are delighted to add him to the team. His hire underpins our ambition to generate attractive risk-adjusted returns for our investors, through superior market access and analytics. As we demonstrate the strength of our model we will continue to invest in growing the team through 2018.”