Lockton Re, the reinsurance arm of the global independent broker, has announced the hiring of senior reinsurance executive and advocator for insurance-linked securities (ILS) in Latin America, Rodrigo Botti, as its new Treaty Country Head of Brazil.Botti will be based in Sao Paulo as part of the Lockton Re Latin America & Caribbean (LAC) team for the reinsurance broker.Most recently, Botti was a Vice President, the CFO, and also Chief Actuarial and Technology Officer at major regional reinsurance firm IRB Re.Prior to that, Botti was the founding partner and CEO of Terra Brasis Resseguros, and had also represented Patria Re in Brazil.

In his year’s working in the reinsurance industry in Brazil and Latin America, Botti has been a strong voice advocating for the use of innovative risk transfer solutions and also for insurance-linked securities (ILS) market development there.Botti had served as President of ANRe (Associação Nacional das Resseguradoras Locais) and Vice President of Fenaber (Federação Nacional das Empresas de Resseguros), while earlier in his career Botti was an investment banker, working on the structuring and trading of fixed income, foreign exchange, and credit financial instruments.As a result, he has experience gained from both reinsurance and capital markets and has been both an advocate for the development of ILS market’s in the Latin American region, as well as for the use of ILS as risk transfer solutions there.

In fact, Botti had been instrumental in between the at the time AIG owned ILS fund manager AlphaCat Managers, Ltd.and reinsurer Terra Brasis Resseguros S.A.Botti has also been a key voice and industry advisor to the initiative to develop , for the “Letra de Risco de Seguro”, or LRS which translates to Letter of Insurance Risk, and the Sociedades Seguradoras de Propósito Específico (SSPE) special purpose reinsurance vehicle.

It was no surprise to learn that .Tom Cunningham, Co-CEO Latin America and Caribbean Reinsurance Treaty, Lockton Re, commented on the hire, “Brazil is clearly a very important market in our region, and we are delighted that Rodrigo is joining to lead our treaty practice there.He will bring extensive experience and expertise to the team.

We continue to invest in capabilities and talent to meet client and market demands.Rodrigo is a recognised market figure and brings an excellent reputation to Lockton Re.” Pat Andreson, Co-CEO Latin America and Caribbean Reinsurance Treaty, Lockton Re, added, “Rodrigo is an executive with an important profile in the reinsurance and financial industry in Brazil and the USA.He will play a key role in our growing LAC capabilities and will work collaboratively with our regional Lockton Latam colleagues, as we enhance our valued proposition in front of clients.”.

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