Amlin, Lloyd's largest insurers, plans to launch a new investment management partnership to be headed by John Wells and Luca Albertini. Both hires were previously with Swiss Re.
Wells will become the new venture's chairman and Albertini comes on as chief executive. The new venture will manage funds focused in traded insurance risk and will likely launch its first fund sometime in 3Q08 or 4Q08.
This management company is the first venture of this type to be backed by a Lloyd's insurer, which underwriting expertise should make the fund offering particularly attractive to investors, said a company spokesperson. Amlin will be an investor in the fund.