|[September 05, 2014]
Rewire, New Financial Technology Start-up, to Focus on Originating, Structuring and Placing Insurance-Linked Securities and Catastrophe Reinsurance Using Innovative Technology
PHILADELPHIA --(Business Wire)--
Rewire Holdings LLC ("Rewire") has officially launched today. The
company is seeking to change how catastrophe risk is being syndicated in
both the reinsurance and capital markets. The vision is to form a highly
specialized and independent team of capital markets and insurance
professionals that will originate, structure and distribute reinsurance
risk. The team will focus on increasing the transparency, efficiency and
execution of capital markets based transactions by developing a
web-based closed-end marketplace for insurance companies and investors
to transact directly.
The Rewire co-founders Stefano Sola and Richard Pennay are joined by
founding team members Vincent Myers, a seasoned insurance-linked
securities professional with 5 years of cat bond structuring experience,
and Sangyeop Lee.
Co-founder and Chief Executive Officer, Stefano Sola, has 20-years of
capital markets experience both as a banker and as a structured finance
and corporate issuer. Most recently Mr. Sola was the Chief Investment
Officer at JGWPT Holdings Inc. (NYSE:JGW) where he built JGWPT's
enviable financing and securitization platform with over $5bn of
financing actiity in the public and private capital markets since 2010.
Co-founder and President, Richard Pennay, has extensive experience in
the insurance-linked securities industry having worked as a cat bond
structurer since 2006. Mr. Pennay has been at the forefront of further
advancing the insurance-linked securities market, having structured many
landmark catastrophe bonds for European, Japanese and US insurance
companies. Mr. Pennay pioneered the creation of PERILS in Europe in 2009.
Mr. Sola said, "We are very excited to launch this new venture with a
leading team and look forward to continuing and expanding our industry
relationships with insurance companies and investors alike." Mr. Pennay
added "Rewire fully intends to take reinsurance and capital markets
convergence to a new frontier."
ABOUT REWIRE HOLDINGS LLC
Rewire is a privately owned company founded in 2014 that seeks to apply
financial technologies with significant structuring and distribution
expertise to disrupt the conventional paradigm of reinsurance and
insurance-linked capital markets. For more information on Rewire please
Private placements are currently offered through a partnership with
SDDCO Brokerage Advisors, LLC, Member: FINRA/SIPC
("SDDCO-BA"). Rewire and its affiliates are independent and unaffiliated
with SDDCO-BA. All securities related services offered by
Rewire-associated persons are done so in their capacities as registered
representatives of SDDCO-BA.
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