Tuesday, May 21, 2024

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SRS Bermuda appoints Charles Scherer as SVP, ILS

SRS Bermuda has appointed Charles Scherer as senior vice president for insurance link securities (ILS) at its Hamilton office.

Reporting to Jonathan Reiss, chairman of SRS Bermuda, the independent captive manager said Scherer will be a key member of its Bermuda leadership team and will be responsible for further expanding SRS’ presence in the ILS sector.

“Chuck has a proven track record of developing ILS products across both property & casualty (P&C) and life sectors, especially with respect to structuring and licensing catastrophe bonds, transformers, sidecars, and life insurance securitisations,” Reiss said.

“Chuck also has considerable experience managing captives and commercial insurance and reinsurance clients in both Bermuda and the United States. His breadth of experience and versatility will be a huge asset to our growing team at SRS.”

Scherer has 20 years of experience in the financial services and insurance industries. Prior to joining SRS, he served as controller for a Florida-based surety insurance company.

Prior to that, he was SVP, ILS at Aon Bermuda where he spent seven years dedicated to the ILS sector.

He has also been a vice president at Marsh USA, managing special purpose financial captives and commercial insurance clients.

“I have long admired SRS’ independence and dedication to client service, and I noticed their commitment to the ILS sector which fits perfectly with my experience,” Scherer said.

“I am excited to have this opportunity in a dynamic and growing business.”