ILS Bermuda Ltd, which promotes economic development through the growth of insurance-linked securities and alternative risk transfer on the island, has appointed Jo Stanton as chairwoman of the ILS Bermuda Committee.

Ms Stanton succeeds Kathleen Faries, the CEO of Horseshoe, in the role.

She has been a member of ILS Bermuda since 2015, serving as deputy chairwoman for the past three years and leads the thought leadership and enterprise committee.

Ms Stanton and Hanni Ali, who has been appointed deputy chairman having been an active member of the team since 2019, are well positioned to lead ILS Bermuda into its post-pandemic future, the organisation said.

Ms Stanton said: “I’m honoured to take on the role of ILS Bermuda chair from Kathleen, who played an integral role in creating this organisation ten years ago and has been an outstanding leader throughout.

“Kathleen had the unenviable task of guiding us through the pandemic and I am excited to take over as we look forward to in-person meetings and events once again.

“Bermuda maintains a significant role in the global market as a leader in the ILS segment and the market continues to rapidly grow and evolve. As we continue to assess the ongoing impacts of Covid, climate change and now geopolitical conflict across the globe, we see ILS as part of the solution, and Bermuda as the place where thought leaders can come together to provide solutions.”

Mr Ali added: “I am pleased to take on a leadership role working together with Jo, the ILS team, and the passionate leaders in Bermuda’s ILS sector, in bringing opportunities for our clients and investors to return to Bermuda to reconnect and learn together for the benefit of society.”

Ms Stanton is head of finance at Tangency Capital, an alternative investment management firm focused on the insurance industry.

Before she joined Tangency, she was chief financial officer of AlphaCat Managers Ltd, having previously been a consultant in Bermuda, primarily in reinsurance, fund administration and telecommunications.

Mr Ali is senior vice-president, strategic partnerships at Hamilton Insurance Group Ltd. He was deeply involved in establishing, and now leads, Hamilton ILS, including Hamilton’s sidecar Turing Re, and its series of catastrophe bond offerings Easton Re.

He has expanded Hamilton’s ILS offerings with the launch of Ada Capital Management and Ada Re in 2020.

ILS Bermuda said it would host its annual Convergence event, now in its tenth year, in October, bringing together key players in the alternative reinsurance and ILS marketplace for networking and education sessions, all within an exclusive business setting.

The organisation said it looked forward to hosting this unique networking event, offering its guests an unmatched opportunity to access the alternative reinsurance, convergence and ILS marketplace, unveiling the potential of ILS and unlocking the value of this asset class.