MultiStrat, the Bermudian-based specialist underwriter and reinsurance investment platform, has announced two senior appointments and a new capital raise as it pushes ahead with its growth strategy.

The company confirmed that Nadia Chychrun will become chief of staff and group senior director of programme change, while Paul McCabe has been named executive director, operations. Both will join MultiStrat’s executive team.

At the same time, MultiStrat said it had entered a definitive agreement to provide underwriting and liability management services for a new casualty reinsurance vehicle it established for a major institutional asset manager with more than $100 billion in assets under management. Deutsche Bank acted as the exclusive structuring and placement agent on the deal.

“These developments are further milestones which demonstrate MultiStrat’s continued appetite to source insurance and reinsurance-linked opportunities for private capital clients,” said Bob Forness, chief executive. “We are committed to building out our talent base and expertise in order to meet the growing demand for innovative reinsurance solutions.”

Ms Chychrun, based in Bermuda, will help lead the company through its next stage of growth, overseeing strategy and high-impact projects. She most recently served as head of finance and chief financial officer at The Best Group in Bermuda, and previously held finance and compliance roles in Toronto, London and Bermuda.

Mr McCabe, who will be based in London, will be responsible for MultiStrat’s global operations, including finance, risk management and technology integration. He joins from Securis Investment Partners, where he was both chief operations officer and chief risk officer, and has more than 20 years of experience in the sector.

Mr Forness said the new hires bring “a wealth of industry experience” that will support the firm’s expansion. Ms Chychrun added she was eager to help MultiStrat “expand their footprint into other lines of business and territories”, while Mr McCabe described the firm as “widely recognised as an innovator in our industry”.

On the capital side, MultiStrat executives said the new reinsurance vehicle will be funded through equity provided by the institutional investor, with MultiStrat delivering underwriting expertise and liability management.

Weston Tompkins, executive director of capital markets at MultiStrat, called the investment “a significant milestone in the development of innovative risk-transfer solutions”.

Deutsche Bank’s Stephen Wollman said the transaction followed “a string of successful financing and capital formation assignments” in the insurance sector, while Philippe Kremer, also of Deutsche Bank, noted that MultiStrat’s flexibility in structuring bespoke deals helped secure the investment.