Risk, capital and strategic re/insurance advisor TigerRisk Capital Markets & Advisory, has named Michael Wade as Non-Executive Chair of its UK division.
TigerRisk Capital Markets & Advisory Chief Executive Officer (CEO), Tony Ursano, commented on the appointment; “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. We are excited to partner with him and continue to focus on that agenda.”
In his new role, Wade will advise TigerRisk in building its London insurance-linked securities (ILS) business.
He recently acted as advisor on issues relating to Insurance Linked Securities to the current and former Chancellor of the Exchequer.
The new ILS regulatory framework is expected to be approved in Parliament later this month and could be implemented by the end of 2017.
Wade, commented; “Joining TigerRisk 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.”
The ILS expert said he selected TigerRisk as its “on the map for being a disruptor – in a good way.
“It has a reputation for innovation, creativity, sophistication, yet has the ability to act quickly and decisively.”
Wade has had a long and distinguished career in insurance, having started as underwriter at C E Heath in 1975 and going on to serve in many senior executive roles including acting as a member of the Council of Lloyd’s from 1988 to 1992 and his current role as Senior Non-executive Director of Neon Underwriting at Lloyd’s and a senior advisor to Swiss Re.
RodFox, TigerRisk CEO, commented; “TigerRisk is fortunate to be joined by someone with such a distinguished record of leadership and innovation.
“We’re honored to have him. As an advisor to the Cabinet Office, Michael Wade was a driving force for the creation of the regulatory framework which will enable ILS to domicile in London.”