Benfield creates division dedicated to non-traditional risk transfer

Benfield has launched a new division within Benfield Advisory, for all forms of non-traditional risk transfer solutions, including sidecars, cat bonds, industry loss warranties (ILWs), collaterized reinsurance and other indexed linked securities.
With the convergence of the capital and reinsurance markets accelerating almost daily, the launch of a dedicated Capital Markets Division within Benfield Advisory is an exciting development which will considerably add to our product capabilities, Grahame Chilton, chief executive of Benfield, said in a release.
The new division will be led by Michael Steel in London, in conjunction with Edward Torres and Ron Collins in New York, a Benfield release says.
The Capital Markets Division will operate alongside Benfield Advisorys existing Corporate Advisory Division, which offers strategic advice on corporate transactions including mergers and acquisitions, management buy-outs and capital raising, the release adds.
The establishment of a dedicated Capital Markets Division enhances our ability to access the full range of hybrid solutions and further builds on Benfields considerable existing expertise in the application of capital market products, Roy Bredahl, global head of Benfield Advisory, said in a statement.