Swiss Re ILS expert joins AI start-up to expand insurance-linked programme

Swiss Re’s insurance-linked programme (ILP) product specialist who has more than a decade of experience in risk transfer to the capital markets is to join a fast-growing artificial intelligence-powered global alternative reinsurance and investment start-up.

Insurtech Vesttoo has tapped former Swiss Re expert Faraz Khan (pictured) to drive its ILP and additional investment vehicles. The hire follows a series of high-profile additions to Vesttoo's team, aimed at the strategic expansion of the company's marketplace and ILP programme.

Khan most recently served as the vice president of insurance-linked securities (ILS) and retro business management at Swiss Re Capital Markets.

In his new role as ILP product specialist, Khan will oversee the execution of transactions between insurers and investors. Additionally, he will also assist with the asset raising process of the growing Vesttoo AUM and promoting its high frequency, low severity insurance-liability investments in the market.

Vesttoo's ILP programme, the company's insurance-liability investment portfolio, enables asset managers and pension schemes to earn long-term, sustainable alpha and attractive risk-adjusted returns (yield enhancement) by using existing assets as collateral in short term Life and P&C liability transactions.

Yaniv Bertele, chief executive officer and co-founder of Vesttoo, said: "We are thrilled to welcome Faraz to our team. He brings a wealth of experience and knowledge to the group. As a proven expert in capital markets and financial services, Faraz will spearhead the expansion of the ILP and additional investment vehicles."

Khan commented: "I am excited about the opportunity to work at Vesttoo and look forward to lending my experience in Insurance Linked Securities to navigate the unique challenges of my new role. I look forward to working with the team to deliver results to our clients and industry partners."

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