Northern Re hires former Munich Re exec Touahri, to advance casualty ILS strategy

Northern Reinsurance SPC, Ltd. (Northern Re), a collateralized reinsurance company with a focus on providing investors access to the returns of its long-tail casualty underwriting business, has announced the hiring of former Munich Re executive Amin Touahri as it looks to advance its casualty ILS strategy.

Cayman Islands based Northern Re launched in early 2023 looking to deploy third-party capital it raised from investors against a select group of historically profitable insurance portfolios focused on high-frequency, low-severity insurance risks.

The company lifted its committed capital to $75 million towards the end of 2023, which helped it to grow its footprint and the size of its underwriting portfolio.

Northern Re announced that Amin Touahri, formerly of Munich Re, has joined the company and will focus on advancing the firm’s initiatives in ILS, capital solutions, and deal origination.

Touahri began his insurance industry career at Generali in 2014 working on corporate strategy, before joining reinsurance broker Willis Re structuring property and casualty arrangements.

He moved to global reinsurer Munich Re in 2017, with a focus on casualty treaty reinsurance business to begin, then becoming an origination and structuring manager for alternative risk transfer products and origination lead for France and the Benelux.

Touahri moved to Hartford Steam Boiler (HSB), the Munich Re owned commercial and industrial underwriter, where he became Head of Specialty Re for the US and Lloyd’s markets.

He then spent a short stint at investment firm Factorial Funds, working on financial institutions focused private equity deals.

Recall that Los Angeles based Factorial Funds ventured into insurance-linked securities (ILS) and reinsurance in 2023.

Now, at Northern Re, Touahri’s experience across casualty and specialty reinsurance, as well as ART and ILS, will be put to good use as the company looks to build-out its collateralized casualty reinsurance investments platform.

Touahri commented, “I’m excited to join Northern Re, as opportunities to be part of building a de novo reinsurer don’t come around often. I’ve always had an entrepreneurial mindset, and seeing what the team has accomplished in such a short time is truly inspiring. I’m looking forward to contributing to the next phase of growth and helping achieve our ambitious goals.”

Co-Founders and Managing Partners of Northern Re Anthony McKelvy and Peter McKelvy added, “We’re excited to bring Amin onboard and continue adding top talent from global reinsurance companies to drive our business forward. The experience that he brings will directly benefit our partners as we build towards institutionalizing Northern as a global reinsurer and leading manager of Casualty ILS.”