Longevity swap & ILS expertise added at Robus Group

Robus Group, the insurance management, fiduciary and financial management group, has added longevity swap and risk transfer expertise in Guernsey, hiring David Riley who was previously with Marsh captive management as a risk consultant.

Riley will be tasked initially with establishing the first fully independent longevity swap incorporated cell company (ICC) for Robus, drawing on experience gained in recent longevity swap arrangements.

Riley had worked on one recent longevity swap transaction that used an incorporated cell which was so complex it involved eight sets of lawyers, the company said.

Additionally, Riley has experience across a range of insurance and reinsurance areas, from captives to insurance-linked securitisation (ILS), and has first-hand experience working in a Solvency II compliant onshore domicile gained in Malta.

He has 24 years experience in the Guernsey insurance and reinsurance market as well and is a former chairman of the Guernsey International Insurance Association (GIIA).

“Guernsey is a domicile of choice for such complex insurance transactions, seen as conveniently accessible from the UK and with a mature community of advisers and lawyers,” Mr Riley said.

“We have the right expertise, the right location and significant momentum.

“Robus will have the ability to offer pension schemes the opportunity to use ICCs to carry out longevity swaps as effectively and efficiently as possible in a simplified format.”

Richard Le Tocq, CEO of Robus Group, added; “David’s insurance career track record speaks for itself. He brings to Robus a deep understanding of the processes and practicalities of longevity swaps which will be an asset to the growth and development of this new area of business for us.”