Wilmington Trust has hired two insurance-linked securities (ILS) and reinsurance collateral experts, both previously with Wells Fargo, as it seeks to grow the firm’s insurance and reinsurance related trust business.
Todd Winchel and Robert Quinn have both joined Wilmington Trust’s Global Capital Market division to lead the Insurance Collateral Solutions business at the firm. Winchel will lead the units product management efforts while Quinn will manage client development. They will both be based in Wilmington Trust’s office in Manhattan.
“Together, Robert and Todd bring a keen awareness of collateral options,” commented Jack Beeson, head of Wilmington Trust’s Global Capital Markets division. “Over the past 15 years they have demonstrated their devotion to their clients, and built strong reputations in the industry for both service and attention to detail. Todd and Robert will be instrumental in further strengthening our position in the insurance and reinsurance marketplace.”
Insurance and reinsurance trusts are alternative collateral mechanisms used to guarantee insurance transactions such as reinsurance, collateralized reinsurance, insurance linked securities (ILS) such as catastrophe bonds and large corporate insurance needs, which includes both captive and large deductible plans.
Winchel and Quinn have been instrumental in arranging collateral trust facilities for many ILS transactions over the years and will bring Wilmington Trust a way to make a concerted move into this sector.