Vesttoo hires ex-Swiss Re CEO to support growth in alternative reinsurance market

Artificial intelligence-powered global alternative reinsurance and investment platform  Vesttoo has hired the former chief executive officer (CEO) of Swiss Re to lead its advisory board as chairman.

Jacques Aigrain (pictured) will chair Vesttoo's advisory board, which includes executives from all areas of the global and regulatory insurance space, as well as financial services.

He will help lead the transformation of the alternative risk transfer market for insurers and investors.

Aigrain brings nearly 30 years of leadership experience in insurance, reinsurance and capital markets, including previous roles such as CEO of Swiss Re, senior financial advisor at Warburg Pincus and leadership roles at JP Morgan in New York, London and Paris.

Aigrain currently serves as chairman of the board at Singular Bank and LyondellBassell NV, as well as a non-executive director of the London Stock Exchange Group, WPP and Clearwater Analytics (CWAN).

The appointment follows Vesttoo's recent launch of an insurance linked programme (ILP), which enables asset managers and pension schemes to earn long-term, sustainable returns by pledging securities, rather than directly allocating cash, to support short and mid-term Life and P&C alternative risk transfer transactions. Investors will benefit from BB spread with AA uncorrelated risk by using existing securities inventory.

Yaniv Bertele, CEO and founder of Vesttoo, said: " Vesttoo is honored to welcome an executive of Jacques's calibre to lead its advisory board. Jacques's extensive leadership experience spans the insurance and reinsurance sector and the capital markets, as well as corporate finance and governance. His expertise in these areas will be invaluable to Vesttoo as we continue on our mission to collaborate with both the insurance and capital markets to offer capital markets investors access to a wide range of insurance risks while providing liquidity and much needed capacity in the insurance and reinsurance sector."

Aigrain commented: "I am excited to take on the leadership of Vesttoo's strong and diverse global advisory board and help the company build on its success in the alternative reinsurance market. I have been impressed with Vesttoo's growth as it leverages advanced technology to bring together insurers seeking to transfer liabilities, which are not covered by traditional reinsurance, and capital market investors targeting insurance-related investments."

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