Rob Procter, the co-founder of Securis Investment Partners, the independent London-headquartered insurance and reinsurance linked investment manager, has been assigned to the advisory board of Akinova, having also made an investment in the start-up.
Procter co-founded Securis back in 2005, with the company now one of the largest ILS and reinsurance linked fund managers with almost $6 billion of assets under management.
Procter served as CEO and Chief Investment Officer at Securis, before stepping back from an executive role at the firm in recent months.
Akinova said Procter will assist the start-up in positioning itself as a platform for the transfer and trade of insurance and reinsurance-related risks. The start-up plans to make use of Procter’s in-depth knowledge of ILS and the capital markets in reinsurance, to help drive growth and market participation.
Procter said, “The creation of AkinovA as an independent electronic marketplace that combines capital markets technology with (re)insurance expertise will fundamentally grow the market by improving the way in which insurance-related risks are transferred and traded. The team’s understanding of the need to deliver value to all market participants and work with, and not against, the industry will be key to the AkinovA success story.”
Procter has also invested in Akinova’s recently completed Series A investment round, the insurtech start-up explained, which it said was closed in recent days but it did not disclose the size of.
Akinova also recently added Takeshi Doi, the Chief of Cyber Risk Section at MS&AD, to its advisory board, confirming part of its focus on the trading of cyber risks.
Akinova had initially promised delivery of a digital platform for transfer and trading insurance and reinsurance risks, with an industry-loss warranty (ILW) type of product slated as its first focus.
Details remained scarce on the exact product offering and in recent months the firm has pivoted to more of a focus on cyber related risks it seems, although we understand it still aims to support transfer of broader insurance and reinsurance market risks once live.
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