Ledger Investing, the insurance technology (insurtech) and insurance-linked securities (ILS) focused venture-backed company, has appointed former AIG CEO Peter Hancock to its Board of Directors and also hired ILS executive Rajiv Punja as its Chief Investment Officer.
Hancock has significant and high-profile experience gained across the banking, insurance, reinsurance and capital markets sectors.
Hancock served as President and Chief Executive Officer of AIG since September 2014, having previously been the international insurance group’s CEO of AIG Property Casualty.
He joined AIG in 2010 as Executive Vice President, Finance, Risk, and Investments, prior to which he worked at JP Morgan as CFO and Chief Risk Officer and led its Fixed Income and Derivatives businesses for over twenty years. He had also served as Vice Chairman at KeyBank.
Samir Shah, Ledger co-founder, and CEO commented, “We are very fortunate to have Peter providing guidance on our board as we fundamentally reshape the value chain that connects insurance risk to investors.
“Peter’s deep insurance and capital markets experience and ability to draw insight from a range of additional disciplines are exactly what Ledger needs at this point in its expansion. We are excited and grateful to engage with Peter as we continue to grow the insurance securitization market.”
Hancock commented on his appointment, “I am excited to help Ledger Investing streamline the distribution of insurance risk transparently to investors who are seeking efficient means of diversification.
“I have contemplated the potential for securitization of insurance risk for almost 25 years, and I am delighted to have found the right platform to deliver a significant expansion of the asset class. Samir has assembled a first-class team that combines deep insurance industry knowledge with creative product development and technical acumen.”
Hancock is a very senior addition to the Ledger Investing Board and will bring the company experience and gravitas through his extensive market knowledge and connections.
Ledger has also made a new hire to its senior executive team, in appointing experienced ILS market executive Rajiv Punja as its Chief Investment Officer (CIO).
Punja had most recently been the CEO and Founding Principal of the Credit Suisse Insurance Linked Strategies backed Lloyd’s syndicate Arcus 1856.
Prior to his time leading Arcus Syndicate 1856, Punja has worked at Credit Suisse Insurance Linked Strategies as a Vice President, underwriting reinsurance, helping the asset manager as it expanded its ILS operations to include rated reinsurance carriers and investing in ILS instruments across the collateralized reinsurance and securitized range of products, such as catastrophe bonds and industry loss warrants (ILW’s).
In September 2020 Ledger Investing announced raising a $10 million Series A round, with the financing set to help it scale-up its platform, with a goal of broadening the world of insurance securitization.