Vesttoo Appoints Former State Street Bank and Credit Suisse Executive to Lead Growth of $1B Insurance-Linked Program
Robert Schumaker brings 20 years of experience in building highly profitable solutions for leading financial institutions, and will lead Vesttoo's Insurance-Linked Program (ILP), providing investors with long-term, sustainable alpha generated by a security-based collateral programMay 26, 2021
TEL AVIV, Israel, May 26, 2021 /PRNewswire/ -- Vesttoo Ltd., a leading global Alternative Reinsurance platform, is very proud to announce that Robert Schumaker, former Managing Director at State Street Bank, and former Vice President at Credit Suisse, is joining Vesttoo's growing team as Vice President of Capital Markets.
Mr. Schumaker will lead Vesttoo's ILP Program, which offers asset managers and pension schemes the opportunity to earn long-term, sustainable alpha by pledging securities to support short and mid-term Life and P&C alternative risk transfer transactions. Investors will benefit from BB spread with AA uncorrelated risk by using existing securities inventory (corporate bonds, government bonds), with a significant global deal pipeline targeting a total AUM of $1B USD within 12 months.
Mr. Schumaker has invaluable experience creating and growing highly profitable lines of business, including the Alternative Financing Solutions business at State Street Bank, as well as lucrative securities lending, financing and collateral reinvestment programs for Credit Suisse.
"We are very excited to have Mr. Schumaker on board, and are looking forward to scaling Vesttoo's Insurance-Linked Program with the help of his expertise. The ILP program is an integral part of the company's effort to bridge the funding gap in the reinsurance market, providing sorely needed alternative capital to the reinsurance industry, as well as exceptional return on risk for investors," said Yaniv Bertele, CEO of Vesttoo.
Vesttoo specializes in data-driven risk management solutions for the P&C and L&P markets, using cutting-edge technologies to transfer general insurance, lapse, mortality and longevity risk to the capital markets. The company provides insurers and pension funds with affordable, strategic risk transfer to the capital markets, while investors benefit from uncorrelated, high-yield investments with remote loss possibilities.
Vesttoo's advanced risk-modeling technology transforms the way securities are structured, offered, and traded, providing an accessible, flexible, scalable, and affordable streamlined alternative or supplement to traditional reinsurance.
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