Mt. Logan Re Ltd., the collateralized special purpose reinsurance sidecar owned and operated by Bermuda reinsurer Everest Re Group Ltd., has announced the hiring of Mark Booth as its Head Property Reinsurance Underwriter.
The new appointment is effective today and will see Booth add to the Mt. Logan Re underwriting expertise with his “Broad experience in many facets of reinsurance underwriting and property catastrophe analytics, including active portfolio management and optimization.”
As with all third-party reinsurance capital initiatives, such as sidecars and fund managers, scaling up in the current reinsurance market environment means building on the expertise of the team. In challenging, softer reinsurance markets such as this one investors will be looking more than ever for track records and skilled teams to give them the confidence to allocate capital to the space.
Booth spent seven years at Aspen Bermuda, most recently holding the role of Head of Cat Risk Management. Prior to that he was a senior modelling analyst with Axis in its reinsurance division.
Rick Pagnani, President and Chief Executive Officer of Mt. Logan Re commented; “Mark brings strong technical underwriting experience to Mt. Logan Re at a critical juncture for the company. We continue to expand our company’s expertise and level of efficiency which we deem to be crucial to our continued success.”
Mt. Logan Re Ltd. is a special purpose reinsurer formed by Everest Re to leverage third-party sourced reinsurance capital to offer collateralized reinsurance in the property catastrophe market worldwide. Mt Logan Re now commands around $450m of capital, with approximately $375m being third-party interests.
Mt. Logan Re is currently the largest vehicle we have in our listing of collateralized reinsurance sidecars.