Vesttoo, the insurtech that uses proprietary artificial intelligence and machine learning to help companies assess and transfer risks to the capital markets, has made another key hire, adding Minas Kalachian, an experienced reinsurance executive who most recently worked at Allianz Risk Transfer (ART).
Minas Kalachian joins Vesttoo in the key position of Head of Structuring, bringing his years of expertise and experience working with insurance-linked securities (ILS) markets and alternative reinsurance capital to the firm.
The company said that Kalachian will be tasked with leading a team of Product Specialists and steering the structuring and implementation of Vesttoo’s alternative reinsurance solutions for the Life and P&C sectors.
His role will also involve driving forward the development of new risk financing solutions for Vesttoo’s clients and analysing financials of specific projects.
Kalachian has 23 years of experience in the insurance and reinsurance sector, most recently, as a Managing Director at Allianz Risk Transfer with a focus on capital solutions.
Earlier in his career, Kalachian also spent a decade working at re/insurer XL Catlin.
“I’m pleased to announce the joining of Mr. Kalachian to our team,” commented Alon Lifshitz, Chief Financial Engineer and Co-Founder of Vesttoo. “His joining comes at an opportune moment. As demand for capacity grows along with investor hunger for uncorrelated assets, we must answer it with rapid scaling. Minas’ ample experience will be invaluable to the crafting of new and innovative financing solutions.”
“I am thrilled to join Vesttoo’s team,” Kalachian added. “Vesttoo has been shaking up the industry by being on the forefront of the changing ILS landscape and enabling alternative sources of capital to play a key role in the transfer of insurance risk beyond Nat Cat, which is sorely needed in our industry. It is this creative spirit, along with strong analytics, use of technology and a talented team that has me excited to join their ranks and help transform the (re)insurance sector.”
Vesttoo also recently hired experienced insurance-linked securities (ILS) executive Stefano Sola, who joined the company in the role of Global Head of Capital Markets, and Dan Dijak, who was most recently at AM RE Syndicates, as its Vice President of Insurance Markets in the US.