Vesttoo Appoints Reinsurance Executive to Lead Innovative Approach to Insurance Structures in the Catastrophe Insurance Market

  • Investment , Money Transfers , Risk Management , Insurance
  • 22.09.2021 05:15 pm

Vesttoo, the marketplace for Life and P&C insurance-based risk transfer and investments, today announced the appointment of industry veteran Daniel Butzbaugh as Vice President, Catastrophe (CAT) Markets. He joins Vesttoo from Stonybrook Capital where he was Vice President and Head of the Industry Loss Warranty (ILW) Desk. 

Dan will lead Vesttoo's CAT and ILW transactions from the company's New York office. He will help create aggregated books of transactions with predefined underwriting criteria that leverage diversified types of risk, geographical locations and financial structures to create an instrument which is inherently diversified. Vesttoo's accurate, proprietary AI technologies reduce the volatility and risk of such aggregated books of business, creating risk-remote, uncorrelated and diversified investment opportunities for institutional investors in the CAT market as well.

Yaniv Bertele, CEO and Founder, Vesttoo, said: "We are delighted that Dan has agreed to join Vesttoo at a time of tremendous growth for the business.  Dan is yet another market veteran to join Vesttoo and brings strong experience in the insurance-linked securities (ILS) and reinsurance sectors. We are looking forward to building innovative investment structures with Dan in the CAT sector, in expansion to our activities in the Life and P&C domains."

Daniel Butzbaugh, Vice President, CAT Markets, Vesttoo, said: "I am excited to join Vesttoo to help strengthen its growing reputation for excellence and innovation in alternative reinsurance. I look forward to helping Vesttoo develop innovative approaches to insurance investments to help bridge the immense funding gap in the market."

Daniel Butzbaugh has over 20 years' experience in the reinsurance and insurance-linked investment sector.  He previously worked at Stonybrook Capital as Vice President and Head of the Industry Loss Warranty Desk. Prior to that, Dan worked in reinsurance, insurance-linked investment and risk management roles at various firms including New Paradigm Underwriters and at Willis Re where he launched his career on the Capital Risk team as a pioneer in the weather derivatives industry.

This announcement comes three months after the appointment of Robert Schumaker, as Vesttoo's VP of Capital Markets, to lead the company's Insurance-Linked Investment Program (ILP).  The program offers asset managers and pension schemes the opportunity to earn long-term, sustainable alpha by pledging securities to support an aggregated book of short and mid-term Life and P&C alternative risk transfer transactions.

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