Miller hires Erik Manning from Peak Capital as Head of ILS

Insurance and reinsurance broker Miller, the newly independent and private equity funded broking group, has announced a further expansion into the insurance-linked securities (ILS) world, with the appointment of Erik Manning as Head of ILS.

Manning was most recently the Co-CEO of Peak Capital, the ILS investment fund manager operation of Hong Kong based reinsurance firm Peak Re.

Peak Re acquired Lutece Holdings, the retrocessional reinsurance focused ILS manager founded by Manning, in 2020.

Manning is due to step into the new role at miller in Q3 2021, subject to immigration approval in Bermuda where he will be based.

He will report to Miller’s Charlie Simpson, Head of Bermuda.

In the role, Manning will be tasked with developing best-in-class insurance-linked securities (ILS) and other insurance or reinsurance risk-to-capital solutions for Miller’s clients.

Manning’s hire builds on the appointment of retro broking specialist Charlie Simpson as Miller’s Head of Bermuda earlier this year, with the broker building out a capital markets specialist reinsurance team on the island.

Manning will also will be joined in Bermuda by Sebastian Alexander, who is moving over from Miller’s London office, and Francesca Cacace.

Alexander has extensive market and client relationships and experience in the ILS arena, placing Industry Loss Warranties (ILW) and also in the traditional markets in London, Europe and North America.

Cacae will support Miller’s Bermuda team, bringing diverse experience and local market knowledge.

Charlie Simpson, Head of Bermuda, commented on the news, “We are delighted that Erik has joined Miller. His deep knowledge of the market, longstanding relationships and extensive experience in developing ILS products will contribute significantly to our future success. Miller is committed to recruiting exceptional people so that we can expand the depth and breadth of our offering to clients and align with the services and skillsets they require in this ever changing market. I look forward to working with Erik, Sebastian and Francesca as we continue building out Miler’s presence on the Island”.

Manning added, “With the insurance and reinsurance markets currently experiencing a period of disruption, Miller is uniquely positioned to harness the opportunities presented by these changes and grow its business significantly over the coming years. I am honoured to join the firm at such an exciting time and look forward to working with the team across London and Bermuda to deliver the quality offering for which Miller is so well known.”

Manning has more than two decades of experience across reinsurance, with a particular focus on retro and ILS, including fund management and structuring.

Before his time at Lutece and Peak Capital, Manning worked in the reinsurance broking world as Managing Director at Aon Bermuda and has previously held senior roles at Markel Re and Guy Carpenter.

He also has investment banking experience gained at ABN Amro and Deutsche Bank in the 2000’s, with roles focused on alternative capital solutions and insurance-linked securities (ILS).