Acrisure Re to launch cat bond offering with Kriesch and Witteveen hires

Acrisure Re has hired Sandro Kriesch and Patrick Witteveen to launch a full-service cat bond offering within its Corporate Advisory and Solutions division.

Both Kriesch and Witteveen will be based in Zurich and report to Ben Canagaretna, global managing director of the division.

The division currently offers ratings advisory, capital raising, legacy transactions and asset management. Acrisure Re executive vice president Craig Darling said the cat bond product offering would further expand the division’s structuring and placement capabilities.

“We are committed to expanding our reach with global investors that will directly benefit the growth aspirations of our existing carriers, MGA clients and prospects in North America,” Darling said.

Kriesch most recently served as a consultant at his own firm, Kriesch Advisors, providing advisory services on cat bonds, the industry loss warranty market and for start-ups targeting the reinsurance market in general.

He previously served as chief operating officer in IQUW’s ILS division, having earlier co-founded Twelve Capital, where he served as managing partner for nine years.

Witteveen was most recently global head of business development for Axis ILS. He previously spent seven years at ILS manager Securis Investment Partners as a partner and head of investor relations and business development for Europe.

Canagaretna said: “The cat bond market is an evolving area with strong fundamentals and increasing opportunity.

“Sandro and Patrick are the ideal candidates to lead the charge and we very much look forward to working with them both. This is another great example of Acrisure Re doing its homework and having conviction at the right moment.”