Chard Re, a reinsurance-linked funding supervisor run by well-known trade executives Rick Montgomerie and Charlie Vaughan, has promoted workforce member William (Invoice) Orendorf to the position of Chief Underwriting Officer (CUO).
Orendorf had joined Chard Re again in 2022, roughly two years in the past, taking up the position of Senior Portfolio Analyst and being primarily based in Bermuda.
Chard Re was launched by former CATCo Aquilo ILS fund managers Montgomerie and Vaughan in 2019.
The Chard Re technique is targeted on sourcing, underwriting and allocating their investor capital to collateralized property disaster reinsurance and a few retrocession contracts. Montgomerie and Vaughan have deep trade contacts and are selective, solely taking part in what they view as engaging reinsurance packages.
Chard Re supplies its institutional traders a technique to entry choose reinsurance-linked returns, from a workforce the place the founders have an extended historical past sourcing reinsurance enterprise for hedge funds or traders and managing portfolios of danger.
Orendorf joined Chard Re having spent over two years working at AXIS Re, as an Underwriter of North American Property reinsurance enterprise.
Previous to that, Orendorf had labored at TransRe for nearly eight years, the place he turned Senior Underwriter. He then moved to Chubb’s Tempest Re and have become a Vice President in Bermuda, earlier than then working in California for a stint with reinsurance dealer Man Carpenter after which he returned to Bermuda for the position at AXIS Re.
In selling Orendorf to Chief Underwriting Officer, Chard Re is signalling a continued strengthening of its operations, at a time when collateralized reinsurance investments are more and more returning to favour and attracting new investor curiosity as nicely.
Chard Re Funding Administration Ltd. had round $420 million in property below administration initially of this 12 months, Artemis’ directory of ILS fund managers shows.
