Oct 14, 2014 Horseshoe Group Announces Expansion in GibraltarHorseshoe Group announced today the expansion of its operations to Gibraltar with the establishment of Horseshoe Management (Gibraltar) Limited (“Horseshoe Management Gibraltar”).
Oct 14, 2014 Horseshoe Group Announces Expansion in Gibraltar
Hamilton, Bermuda. October 14, 2014.
Horseshoe Group announced today the expansion of its operations to Gibraltar with the establishment of Horseshoe Management (Gibraltar) Limited (“Horseshoe Management Gibraltar”).
The formation of Horseshoe Management Gibraltar follows months of work alongside government officials, representatives of the FSC (Gibraltar’s insurance regulator), local service providers and most notably a working group of leading ILS bankers, service providers, investors and sponsors put together by Horseshoe CEO, Andre Perez in conjunction with HM Government of Gibraltar’s Ministry for Financial Services. The working group assisted the FSC in finalizing their ILS guidelines enabling Gibraltar to be open for ILS business within just four months.
Horseshoe Management Gibraltar will build on the global expertise of the Horseshoe Group in attracting European sponsors and cedants for ILS structures such as catastrophes bonds, sidecars and collateralized reinsurance transformers, to deliver superior insurance management services in another EU jurisdiction. The Horseshoe Group is also licensed in Ireland. “The establishment of Horseshoe Management Gibraltar will now give us more flexibility to manage ILS transactions in either European domicile depending on the clients’ preference.” Andre Perez noted.
“At the moment, the ILS market is dominated by US Wind and Earthquake perils and for it to truly grow, it will have to not only expand the perils but also the geographical regions it covers. My sentiment is that a good percentage of the growth is going to come from Europe. This is why I am quite bullish about Gibraltar’s potential for ILS.” said Andre Perez.
Gibraltar’s Minister for Financial Services, Albert Isola MP, commented “I am delighted to welcome Horseshoe to Gibraltar following its regulatory approval by our Financial Services Commission. Andre and his team at Horseshoe have provided us with invaluable technical expertise and market knowledge together with the specialists in the Working Group that he coordinated and their decision to set up in Gibraltar is especially welcome. We are keen to establish Gibraltar as a European ILS jurisdiction and this is an important and significant next step.”
The Horseshoe Group is in the process of recruiting talent based in Gibraltar to support its ILS activities there, while capitalizing on the breadth of global resources throughout the Group.
“Gibraltar has a lot going for it as a suitable ILS jurisdiction, aside from being an EU domicile, it has now a strong ILS regulatory and tax framework, a good infrastructure, competent service providers, Protected Cell Company legislation and more importantly the strong commitment from both Government and the FSC to make Gibraltar a thriving ILS European domicile” said Andre Perez, “We are excited to have established a presence in Gibraltar with Horseshoe Management Gibraltar and we look forward to working alongside the collective willingness of those in Gibraltar to make ILS a success on “the Rock””.
About Horseshoe Group
Horseshoe Group is the largest independent insurance manager dedicated to the ILS market and offers a broad array of management and advisory services to insurers and reinsurers, catastrophe bonds, sidecars, dedicated reinsurance funds, hedge funds and private equity firms, Lloyd’s affiliates and investment banks. Horseshoe has offices in Bermuda, the Cayman Islands, Ireland and Gibraltar. For more information please visit www.horseshoeglobal.com.
Sep 8, 2014 Horseshoe Group Appoints Chief Operating OfficerHorseshoe Group CEO, Andre Perez, announced today that Brenton Slade has been appointed as Chief Operating Officer (COO) for the company.
Sep 8, 2014 Horseshoe Group Appoints Chief Operating Officer
Hamilton, Bermuda. September 8, 2014.
Horseshoe Group CEO, Andre Perez, announced today that Brenton Slade has been appointed as Chief Operating Officer (COO) for the company.
Brent will be responsible for leading the global business operations of the Horseshoe Group and focusing on brand strength, day to day operations, business development and client service delivery.
“Brent brings extensive knowledge in the insurance convergence space”, said Perez. “We are thrilled to have been able to attract someone of his caliber. Brent has held leadership positions in the reinsurance and alternative investment industry for over 15 years and the two of us will work closely together to bring the Horseshoe Group to the next phase of its development”.
”I am excited to be joining a demonstrated leader in the convergence of the capital markets and (re)insurance” said Slade “Andre has put together a first-rate team of professionals and I look forward to working with them in growing the business and expanding the scope of possibilities this burgeoning sector of the market is sure to provide.”
Between 2003 and 2013, Brent was the Chief Marketing and Capital Markets Officer for Flagstone Reinsurance. He was responsible for capital market initiatives including capital structure transactions, ILS, cat bond, and sidecar businesses, as well as investor relations, firm-wide marketing, and a member of the Executive Committee. Brent was a founding member of Flagstone and assisted in the formation and financing of the company from start-up through IPO and its ultimate sale to Validus Re. Prior to Flagstone, Brent was an Executive Vice President and Principal of West End Capital Management Limited (“West End”), a fixed income arbitrage hedge fund and institutional fixed income investment manager. Notably, during his time at West End, Brent assisted in the creation, management and formation of multiple new products including Rockridge Reinsurance, a pioneering sidecar/ILS vehicle combining fixed income arbitrage asset management with reinsurance risk. Brent was previously a Director of West End, Mont Fort Reinsurance, Mont Gele Reinsurance, and Longtail Aviation.
Brent has a degree in Politics and Economics from the University of Western Ontario.
About Horseshoe Group
Horseshoe Group is the largest independent insurance manager dedicated to the ILS market and offers a broad array of management and advisory services to insurers and reinsurers, catastrophe bonds, sidecars, dedicated reinsurance funds, hedge funds and private equity firms, Lloyd’s affiliates and investment banks. Horseshoe has offices in Bermuda, the Cayman Islands and Ireland. For more information please visit www.horseshoeglobal.com