Montauk Point launched by Szakmary to provide independent strategic advice to third-party capital

Montauk Point has been launched in Bermuda by well-known reinsurance industry executive Adam Szakmary to provide independent advisory services to third-party risk capital providers.

Montauk Point will be agnostic to the form of capital being deployed, whether traditional rated reinsurance security or insurance-linked securities (ILS) backed, Szakmary explained.

The company explains itself as “a partner in navigating the complexities of re/insurance market capital participation,” and will specialise in helping third-party capital providers in areas such as portfolio construction, portfolio management lifecycle objectives, and other strategic portfolio considerations.

Montauk Point founder Adam Szakmary was the Chief Underwriting Officer (CUO) and Portfolio Manager of specialist ILS and third-party reinsurance capital manager AlphaCat, having joined that firm in 2021.

Prior to that, Szakmary was the Co-CUO for Hiscox Group’s reinsurance arm, Hiscox Re & ILS and also held the role of Director of Underwriting for Hiscox Insurance Company (Bermuda) Ltd.

Before which he worked at Montpelier Re, where he also had portfolio management and executive control of the firm’s third-party capital ILS management unit.

Szakmary’s vision for the Montauk Point business is to, “provide independent underwriting and portfolio management advisory services to risk capital providers equally, supporting clients on achieving stable risk adjusted returns and downside risk management,” he explained.

“We bring the underwriter to the table for our clients,” Szakmary told Artemis. “Providing expert insight informed from quantitative and qualitative perspectives, while always acting as an unconflicted independent advocate for them.”

There will be a focus at Montauk Point on the provision of services to risk capital providers in the capital markets, on assumed quota share reinsurance, and captive entities as well.

With a goal to help in maximising returns and capital preservation, based on client strategic or custom-made goals.

Advice on hedging strategies will also be a key offering, as too will reinsurance contract reviews, technology and research consulting and venture capital advisory.

With Szakmary’s strong background in underwriting and portfolio management for capital markets and third-party capital strategies in reinsurance, it’s no surprise that Montauk Point will have a focus on such areas of the market, to help investors and allocators better understand and more effectively deploy capital into the insurance landscape.