Securis Investment Partners LLP, the London-based ILS investment manager, has named long-standing employee and previous Chief Operating Officer Vegard Nilsen as the firm’s new Chief Executive Officer, while co-founder Rob Procter continues as Chief Investment Officer.
Nilsen has been with Securis since the ILS fund manager began in 2005, working his way up to the Chief Operating Officer (COO), leading the investment managers operations through a time of growth and expansion.
Now, Nilsen takes on the CEO role, taking on responsibility for the day-to-day running of the Securis ILS investment business.
Procter has always had the role of CIO and the company now recognises the importance of his focus on its portfolios of insurance and reinsurance linked investments.
The firm said that the changes were being made, “In clear recognition that with Securis’ growth in assets, strategies and staff our investors’ interest is best served by Rob dedicating all his time to portfolio management, managing the Portfolio Management Group and as Chair of the Investment Committee.”
Securis now counts its insurance and reinsurance linked assets as having reached $6.2 billion, as of January 2018, as the manager has achieved impressive growth over consecutive years.
The changes put an operations-focused executive, Nilsen, who has been responsible for much of the business structure supporting Securis’ investors and growth into the CEO role at a time when the firm has experienced rapid expansion.
While Procter, co-founder and always having had oversight of the investment portfolios, can double-down on ensuring the portfolios of insurance and reinsurance risk Securis creates can deliver the returns their investors are expecting.