Strategic Risk Solutions hires Charleson to expand ILS activities

Strategic Risk Solutions, Inc., a provider of insurance, reinsurance and captive management and consulting services, has announced the hiring of Matthew Charleson in Bermuda from Apex, who joins SRS with a remit to expand the firms insurance-linked securities (ILS) activities.

Charleson is well-known in the Bermuda ILS market, where he has worked for a number of years in ILS management, servicing and fund administration.

Charleson had worked at ILS focused fund administrator Prime Management from 2010 for three years, which had a significant share of Bermuda’s ILS fund servicing sector at that time.

He then went on to work at Kane LPI, again with a focus on fund administration including for the ILS sector and most recently was Head of Insurance Fund Services at Apex in Bermuda.

Charleson joins SRS as Chief Operating Officer of Fund Services and ILS from December 7th 2020.

Remaining Bermuda based, he will be responsible for continuing the development and expansion of SRS’s services within the ILS sector of the insurance and reinsurance market.

SRS will look to add increasing ILS operations in all the key jurisdictions where it operates, including Bermuda, Cayman, Europe and the US.

In the role, Charleson will report to Managing Director Jonathan Reiss, who joined SRS earlier this month.

“There is a strong need for a high-quality independent manager in the ILS sector,” SRS President and CEO Brady Young explained. “The market is concentrated with limited options, all at a time when there is a need for new ventures to support the insurance industry with rates hardening and innovation flourishing. We are investing in our specialist ILS capabilities both with respect to fund administration as well as insurance management to support this growing sector of the insurance industry.”

“I am excited by the challenge of building out SRS’s ILS services,” added Charleson. “SRS has deep capabilities in insurance management and has fund administration resources through its recent acquisition of Dyna Management that we will grow. By combining these capabilities and being independent of broker ownership, SRS is especially well positioned to be the service provider of choice for growing ILS businesses. I know Jonathan from our time at EY and am looking forward to working with him again,” added Charleson.