Justin Hull has, we understand, left Bermudian reinsurer PartnerRe and followed Brian Tobben to join the newly established, third-party capital and insurance-linked securities (ILS) focused division of Aspen Re, Aspen Capital Markets.
Aspen Capital Markets was formed in April of this year, as Aspen joined other insurers and reinsurers seeking to position themselves to capitalise on the growing interest in reinsurance as an asset class and the inflows of alternative capital. Brian Tobben, most recently serving as Head of Insurance Linked Securities at PartnerRe, joined Aspen Capital Markets as Managing Director to launch the effort.
Now, one of Tobben’s employees from his ILS team at PartnerRe has left the reinsurer to join the new Aspen Capital Markets unit.
Justin Hull spent four years at PartnerRe, most recently as an insurance-linked securities trader working within the unit Tobben was responsible for. Hull joined Aspen Capital Markets in September and takes on the role of Portfolio Manager, responsible for managing portfolios of insurance and reinsurance-linked assets at the firm.
As Aspen and other reinsurers build out their capital markets teams, we should expect to see more in the way of people moves in the ILS and alternative capital space. There is already evidence of an increase in hiring levels and this trend is likely to continue as the new third-party capital focused units at reinsurers seek to hire staff to manage the capital and assets the units deal with.