Vesttoo hires Stonybrook’s Butzbaugh to lead CAT and ILW transactions

Vesttoo, the technology company that uses proprietary artificial intelligence and machine learning solutions with the goal of helping companies assess and transfer risks to the capital markets, has hired Daniel Butzbaugh to lead the company’s catastrophe and industry loss warranty (ILW) transactions from its New York office.

Butzbaugh has joined Vesttoo as Vice President, Catastrophe (CAT) Markets. In his new role, he will help develop aggregated books of transactions with predefined underwriting criteria that utilise diversified types of risk, geographical locations, and financial structures to create an inherently diversified instrument.

Vesttoo explains that its accurate, proprietary AI technologies lower the volatility and risk of these types of aggregated books, creating risk-remote, uncorrelated and importantly diversified investment opportunities for institutional investors in the catastrophe market.

Butzbaugh brings more than two decades of experience in the reinsurance and insurance-linked investment arena and joins from specialist strategic advisory and investment banking firm, Stonybrook Capital, where he served as Vice President and Head of the ILW Desk.

Previously, Butzbaugh held various reinsurance, insurance-linked investment roles at a number of companies, including New Paradigm Underwriters, and broker Willis Re, where he started his career on the Capital Risk team.

Yaniv Bertele, Chief Executive Officer (CEO) and Founder, Vesttoo, commented: “We are delighted that Dan has agreed to join Vesttoo at a time of tremendous growth for the business. Dan is yet another market veteran to join Vesttoo and brings strong experience in the insurance-linked securities (ILS) and reinsurance sectors.

“We are looking forward to building innovative investment structures with Dan in the CAT sector, in expansion to our activities in the Life and P&C domains.”

On his new role, Butzbaugh said: “I am excited to join Vesttoo to help strengthen its growing reputation for excellence and innovation in alternative reinsurance. I look forward to helping Vesttoo develop innovative approaches to insurance investments to help bridge the immense funding gap in the market.”

The appointment of Butzbaugh comes only a few months after Vesttoo hired Robert Schumaker to lead its new Insurance-Linked Program (ILP) offering. Through this program, the company aims to provide investors with long-term, sustainable alpha, generated through a security-based collateral program, as a mechanism for backing risk and sourcing reinsurance-linked returns.

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