Liberty Mutual Investments hires Brooks as MD, Head of Insurance Solutions & Capital Markets

Liberty Mutual Investments (LMI), the investment arm for Liberty Mutual Group, has hired experienced insurance-linked securities (ILS) market executive Paschal Brooks as Managing Director and Head of Insurance Solutions & Capital Markets.

LMI’s Insurance Solutions & Capital Markets team sits within the firm’s Global Strategy & Capital Allocation business.

Brooks’ appointment is particularly notable as this marks the first time the investment arm of Liberty Mutual has had an insurance-linked securities specialist in its team, as far as we are aware.

In the past, Liberty Mutual has a track record on the insurance and reinsurance side in utilising third-party and ILS capital sources, including through catastrophe bond sponsorship and reinsurance sidecar arrangements.

“This newly created role supports LMI’s strategy to deepen the connection between its capital and risk capabilities. Brooks will lead LMI’s efforts to develop capital-efficient structures at the intersection of insurance and capital markets, partnering closely with Global Risk Solutions (GRS),” Liberty Mutual Investments explained.

Brooks brings more than 25 years of experience towards his new role, and as mentioned, is very well-known across the ILS industry.

He joins LMI from Aon Securities LLC, the capital markets and investment banking arm of the insurance and reinsurance broker where he most recently served as a Managing Director, and primarily focused on advising property and casualty re/insurance clients on securities issuance to manage risk, build strategic partnerships, and raise capital resources.

Brooks began his career at Goldman Sachs, where he served as an analyst, then after a stint at Alleghany he would later rejoin Goldman Sachs in a reinsurance focused investment banking role in 2006.

Just over five years later, Brooks joined AlphaCat Managers in Bermuda, the ILS fund management arm of Validus. Brooks maintained this position until 2022, during which time he advanced through the ranks to attain the position of Chief Executive Officer of AlphaCat Capital Inc., based back in the United States.

Patrizio Urciuoli, Co-President of Liberty Mutual Investments, commented: “Earlier this year, Liberty formed Global Risk & Capital Solutions, bringing LMI and GRS under Vlad Barbalat’s leadership.

“This role is a practical expression of that structure and supports Liberty’s evolution as a global insurance and capital solutions partner. We are excited to welcome Paschal to LMI and work closely with him on accessing new opportunities across our insurance and investment balance sheets.”

Brooks’ deep experience and expertise in reinsurance capital markets, investment banking and ILS portfolio and fund management, will be highly valuable towards LMI’s Insurance Solutions & Capital Markets team.