Sequant Re, a Bermudian ILS and collateralized reinsurance company that aims to lower the barriers to entry for investors seeking access to the returns of re/insurance risks, has hired experienced underwriter Victor Baillargeon as its CUO.
Baillargeon, who was already working with Sequant Re as a consultant, has over 35 years of experience underwriting a range of reinsurance risks across multiple classes of business. He was already working with Sequant as a consultant, but now the relationship has been formalised with the Chief Underwriting Officer role.
Baillargeon will be tasked with leading the development of Sequant Re’s underwriting strategies to support the firm’s aim of enabling investors of all sizes to access insurance-Linked Securities (ILS) and the reinsurance-linked asset class through diversified portfolios of high-quality risk.
Guy Cloutier, Founder & CEO of Sequant Re, commented on the appointment; “As the ILS market continues to evolve, it is time for reinsurers to be innovative. It is Sequant’s vision to address the enormous gap between the true cost of risk (natural and man-made) and the protection actually provided through the traditional insurance and reinsurance market. With Vic on board Sequant Re is well positioned to enhance its ILS offering and add value to our clients.”
Vic Baillargeon added; “I am delighted to be part of a company that has an innovative and fresh perspective on the future development of the convergence of re/insurance and the capital markets. We see current challenges in the reinsurance space as a tremendous opportunity. Investors and cedants are looking for solutions and it is our goal to increase the efficiency and flexibility of the securitisation process and facilitate the access to ILS.”
Baillargeon, a former Head of Structured Reinsurance at Aspen Insurance Ltd., Bermuda, brings significant experience in property catastrophe, casualty and specialty reinsurance underwriting to the firm.
As a result, his hire will build on Sequant Re’s strategy of underwriting customised and diversified ILS portfolios, tailored to meet the capital markets’ increasing interest in reinsurance as an asset class.