Industry veteran Erik Manning is to join the Bermuda office of Miller, the independent specialist re/insurance broker, as head of Insurance-Linked Securities.

Mr Manning is due to commence his role in the third quarter of this year, subject to approval by the Bermuda Department of Immigration.

He will report into Charlie Simpson, head of Bermuda.

The company said Mr Manning will concentrate on developing best-in-class ILS and other insurance risk-to-capital solutions to the benefit of Miller’s clients.

It said his appointment builds on the recruitment of Mr Simpson earlier this year as the firm applies a continued focus to reinsurance expansion.

Mr Simpson and Mr Manning will be joined in Bermuda by Sebastian Alexander, who relocates from Miller’s London office, and Francesca Cacace.

The company said Mr Alexander has extensive market and client relationships and has experience in the ILS arena, placing industry loss warranties and also in the traditional markets in London, Europe and North America.

Miller said Ms Cacace will provide support to Miller’s Bermuda team, bringing her diverse experience and local knowledge.

Mr Simpson said: “We are delighted that Erik has joined Miller. His deep knowledge of the market, longstanding relationships and extensive experience in developing ILS products will contribute significantly to our future success.

“Miller is committed to recruiting exceptional people so that we can expand the depth and breadth of our offering to clients and align with the services and skill sets they require in this ever changing market.

“I look forward to working with Erik, Sebastian and Francesca as we continue building out Miller’s presence on the island.”

Mr Manning said: “With the insurance and reinsurance markets currently experiencing a period of disruption, Miller is uniquely positioned to harness the opportunities presented by these changes and grow its business significantly over the coming years.

“I am honoured to join the firm at such an exciting time and look forward to working with the team across London and Bermuda to deliver the quality offering for which Miller is so well known.”

Miller said Mr Manning has more than 20 years’ experience in the sector.

He joins from Bermudian-based Peak Capital where he was co-CEO.

Prior to that, he was managing director at Aon Bermuda and has also held senior roles at Markel Re and Guy Carpenter on the island.