Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, has hired a former portfolio manager from insurance-linked securities (ILS) specialist fund manager Elementum Advisors.
Chris Cebula has joined Palomar as Senior Vice President, Reinsurance, a position that will see him devising and looking after the insurers risk transfer and reinsurance strategy.
Cebula was most recently a Portfolio Manager at Elementum Advisors, LLC, where he helped to develop and refine the ILS fund managers’ portfolio strategy for its catastrophe bond focused client accounts and also led a team responsible for investment research and due diligence.
He had worked at Elementum for almost a decade, prior to which he worked at a multi-strategy investment firm.
Palomar has tapped the capital markets on a number of occasions for reinsurance, including through catastrophe bond issues, so Cebula’s experience will provide valuable additional input, especially if Palomar wanted to take more control of its reinsurance in future through a managed, or owned structure.
Palomar also announced the hires of Ty Robben who joins the underwriting leadership group at Palomar as Senior Vice President, Casualty Underwriting, joining from his most recent role at Great American, and Gerrit VandeKemp who becomes Vice President, Casualty Underwriting after having spent eight years at CRC Group.
“I am very excited to welcome Ty, Gerrit and Chris to the Palomar team,” Mac Armstrong, Chairman and Chief Executive Officer commented. “These seasoned professionals bring tremendous industry experience and expertise to Palomar’s underwriting and reinsurance teams. I am pleased to have Ty and Gerrit leading our Casualty efforts, which will undoubtedly profitably grow our business and diversify our portfolio. Similarly, Chris brings a wealth of knowledge and understanding to our already strong reinsurance team that will be beneficial to our overall risk transfer strategy.
“These hires are prime examples of Palomar’s continued focus on investing in the long-term growth of the business. Expanding our team is critical to our long-term success and I am thrilled that we can attract such experienced and talented professionals to the Palomar team.”