Multi-Strat Holdings, owner of the MultiStrat Re platform that enables asset managers such as hedge funds to more easily get into the reinsurance business, has added a new member to its board of directors in Raymond O’Neill, principle of ARC Directors (Ireland) Ltd.
O’Neill has been heavily involved in the asset management industry for 28 years, holding senior management and leadership positions at Bank of Bermuda, Atlantic Corporate Management, Investors Bank & Trust, RSM Robson Rhodes.
Prior to his current role at ARC Directors (Ireland), O’Neill was the Founding Member and CEO of boutique global professional services firm Kinetic Partners, which launched in 2005 and employed 170 people.
In 2014, O’Neill founded ARC Directors (Ireland) Ltd to provide director services to investment funds, investment and hedge fund managers and special purpose vehicles.
Bob Forness, Chairman and CEO of MultiStrat, commented on the announcement; “It is a pleasure to welcome Raymond to MultiStrat’s board of directors. Raymond’s expertise and insights on building a high quality, service oriented international platform for our asset management clients will be invaluable at this stage of the company’s development. I look forward to working with him as we enhance and expand the number of asset manager sponsored reinsurance companies on our platform.”
O’Neill added; “I am delighted to be joining the board of MultiStrat where the strong management team is creating entrepreneurial solutions that bridge the insurance and investment management industries globally. I look forward to supporting the team in achieving their strategy.”
O’Neill’s experience across multiple financial jurisdictions including Bermuda, London, Dublin and the United States will benefit MultiStrat as it seeks to grow its asset manager focused reinsurance platform.
Asset managers and managers of hedge fund strategies are increasingly looking to establish reinsurance vehicles. The attraction is to gain access to what is considered more permanent capital, as they follow the strategy of underwriting longer-tailed, lower volatility reinsurance business, while utilising the premium float within their investment strategies.