Ledger hires Wang Xu as MD to lead Cayman casualty ILS platform
Ledger ILS Services Ltd. the recently formed provider of underwriting and risk management services launched by casualty insurance-linked securities (ILS) marketplace and insurtech company Ledger Investing, has hired former Peak Re executive Wang Xu to lead its new Cayman Islands casualty ILS platform.
As we reported last month, Ledger Investing expanded its casualty ILS capabilities with the launch of two Cayman Islands domiciled subsidiaries, underwriting and risk management entity Ledger ILS Services and reinsurance company Ledger Re SPC.
The new platform has been established to provide institutional investors with access to casualty ILS investment opportunities, modelled, structured and priced using Ledger’s technology.
Wang Xu, now based in the Cayman Islands for Ledger, as Managing Director, Ledger ILS Services Ltd., will be responsible for management of Ledger’s Cayman-Island-based platform for casualty ILS underwriting and risk management services.
He will serve as the point of contact for Ledger’s local counterparties, while also collaborating with external parties and clients for the company.
The company said that, “Ledger ILS Services and Ledger Re SPC, a Cayman reinsurer, together provide scale and maturity as we continue growth of the casualty ILS market.”
Xu’s insurance market career began at global player AIG in the United States, working as a casualty focused senior actuarial analyst.
He then spent some time working at Verisk entity ISO as an actuary, before moving to work in the Cayman Island’s for reinsurance firm Greenlight Re as a pricing actuary.
In 2020, Xu moved to Hong Kong and joined reinsurer Peak Re, first working as in analytics for that company, before moving up to become its Co-Head of Pricing, for Property and Casualty reinsurance risks.
He brings Ledger a good deal of experience in casualty risks and his local market knowledge having previously spent time in the Cayman reinsurance market will also be invaluable as the company builds out its new operations there.
Also read: Ledger Investing combines forces with Fermat and expands casualty ILS capabilities.
