Launch marks such venture to be backed by a Lloyd's insurer.
Lloyd’s insurer Amlin has announced its intention to form a new investment management partnership with John Wells and Luca Albertini.
The new venture, which is subject to FSA authorisation, will manage funds focused in traded insurance risk. The company plans to launch its first fund this year.
Wells, who will become chairman, spent almost 20 years as an investment banker with the NatWest Group in London and Tokyo and in 2000, he was one of the four founding members of Swiss Re Financial Products where he led the development of Swiss Re's platform for traded insurance risk.
Meanwhile, Albertini, who will become chief executive, has experience in banking and insurance having spent time at the securitisation units of Citicorp, Credit Suisse First Boston, and GE Capital, including an assignment within GE's European reinsurance business. From 2003 he headed the European Insurance Linked Securities team of Swiss Re Capital Markets.
Charles Philipps, Amlin chief executive said: "Amlin intends to be an active participant in the Insurance Linked Securities market, both to enhance our capital and risk management capabilities and to generate returns from the growth and high margins available in this business.
“The combination of Amlin's proven reinsurance expertise with John and Luca's wealth of relevant capital markets experience makes the new company a strong proposition in a developing market."
The management company is the first such venture to be backed by a Lloyd's insurer. Amlin will be an investor in the fund.
