TigerRisk hires ILS adviser to UK Chancellor
Reinsurance broker TigerRisk Partners has appointed Michael Wade, the Crown Representative for Insurance at the UK Cabinet Office and advisor to the Chancellor of the Exchequer on issues relating to Insurance Linked Securities (ILS), as non-executive chair of TigerRisk Capital Markets and Advisory UK.
A new ILS regulatory framework has been laid before the UK Parliament and is expected to be approved later this month. The company said that Wade will advise TigerRisk in building its ILS practice in London.
“Michael Wade is a highly accomplished and entrepreneurially minded insurance executive and public servant. He recently helped position the London insurance market to become a leading insurance linked securities (ILS) center of excellence,” said Tony Ursano, CEO of TigerRisk Capital Markets & Advisory. “We are excited to partner with him and continue to focus on that agenda.”
Wade added: “Joining TigerRisk Capital Markets & Advisory UK Ltd. as Non-executive Chair will give me an opportunity to work within the new ILS regulatory framework. London has the insurers, the distribution, the credibility, the infrastructure and expertise to make it one of the world’s leading ILS domiciles.”
Wade began his insurance industry career as an underwriter at C E Heath in 1975. He then joined Hartley Cooper as a reinsurance broker before forming his own firm, Holman Wade, in 1980. Holman Wade merged with H. Clarkson & Co to form Horace Clarkson where Wade was director till 1993.
Following the Lloyd’s crisis, Wade, in partnership with Sedgwick Group, formed Corporate Lloyds. Together they launched CLM Insurance Fund. In 2000 Wade formed Rostrum Group, a specialist investment manager. In 2006 he became a partner at Optex Group focusing on the development of the Industry Loss Warranty market. Optex merged with Besso Insurance Group in 2011.
Wade was a member of the Council of Lloyd’s from 1988 to 1992. During this time he served on the Rowland Lloyd’s Taskforce developing solutions for the then troubled Lloyd’s insurance market. He founded Lloyd’s Community programme in 1989. Wade is currently senior non-executive director of Neon Underwriting at Lloyd’s and a senior advisor to Swiss Re.
Get the latest re/insurance news sent to your inbox every day - Sign up to our free email newsletters
Today’s stories
Reinsurers’ returns just 1.2% above their cost of capital
JLT Re poaches Ed’s reinsurance CEO in Asia Pacific
Aon Benfield teams up with JBA on UK flood risk modelling
Zurich UK captive leader moves to XL Catlin for a key role
Chaucer Dublin sets up new London branch
BPL Global granted brokerage license to operate in Dubai
Willis Towers Watson hires Accenture MD for insurance consulting
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze