TigerRisk Capital Markets & Advisory
New York, NY
Tony Ursano joined TigerRisk Partners... Read more
Tony Ursano joined TigerRisk Partners as President in April 2015 from Willis, where he was the founder and CEO of Willis Capital Markets & Advisory for six years and a member of the Willis Group Executive Committee. Prior to joining Willis, Tony was Vice Chairman of the Financial Institutions Group at Banc of America Securities. Between 1999 and 2008, he was Global Head of the Financial Institutions Group at Banc of America Securities, managing a team of more than 150 bankers. Prior to that, he was a senior director at Merrill Lynch for five years. Tony started his career at Donaldson, Lufkin, and Jenrette and subsequently worked for SG Warburg in New York and London. He has over 28 years of experience as an investment banker focused on the insurance industry and is a frequent speaker on the state of the insurance and reinsurance industries.
He has advised on more than 100 insurance industry M&A transactions, and more than 125 debt, equity, and ILS capital raising transactions in his career, including many of the industry’s most prominent deals. While at Willis, amongst other things, Tony worked on the acquisition by management of American Coastal Insurance and simultaneous sale by management of a significant interest in AmRisc, the sale of QBE’s MGA businesses to Alliant, the sale of Fortegra to Tiptree, the sale of York Insurance Services to Onex, the sale of Cathedral to Lancashire, the sale of Alea to Catalina Holdings, the sale of Imperial Management to National General, ACE’s acquisition of Fianzas Monterey, the acquisition by CVC of Brit, the sale of Permanent General to American Family, the sale of Family Heritage to Torchmark, the sale of AmWINS to New Mountain Capital, the sale of Arrowhead to Brown & Brown, the sale of Montpelier’s US business to Selective, the sale of Penn Millers to ACE, the sale of Chaucer to the Hanover Group, the acquisition by CVC of Cunningham Lindsey, the sale of Secura to QBE, the merger of Harbor Point and Max Re, and the sale of Premium Credit to GTCR.
Prior to joining Willis, select significant transactions in which Tony was involved include the sale of ZC Sterling to QBE, the acquisition of FSA by Assured Guaranty, the acquisition of HRH by Willis, the sale of Bank of America’s Corporate Insurance Agency to HRH, the acquisition of 21st Century Insurance by AIG, the spin-off of Fidelity National’s title operations, the sale of Sedgwick CMS to Fidelity National & T.H. Lee, the sale of CompWest to Accident Fund, the sale of 21st Century Insurance to Farmers, the sale of Crump to J.C. Flowers, the acquisition of E.W. Blanch by Benfield, the acquisition of Travelers Life by MetLife, the sale of Acordia to Wells Fargo, the sale of Lyndon Insurance to Protective and the acquisition by ACE of CIGNA’s P&C insurance operations.
In addition, during his career, Tony has worked on capital raising transactions (IPOs, equity, debt, and ILS) for, amongst others, ACE, Hiscox, State Compensation Insurance Fund, American Coastal, Palomar, Heritage Insurance, ASI, Munich Re, American Modern, Catlin, Chubb, Liberty Mutual, Willis, Meadowbrook, Renaissance Re, PURE Insurance, Centauri Insurance, Assured Guaranty, AIG, Primerica, Beecher Carlson, Frontier Insurance, Annuity & Life Re, PMI, MGIC, AMBAC, Max Re, Paris Re, Fidelity National, XL, Protective Life, American Heritage Life, Genworth, Conseco, MetLife, Montpelier Re, Universal American, Republic, the Hartford, and Philadelphia Insurance.
Tony received his Bachelor of Arts in both Economics and International Studies from UNC Chapel Hill with honors where he was a Morehead Scholar and a member of their National Championship NCAA Division I Lacrosse Team.
Jarad Madea joined TigerRisk Partners...
Jarad Madea joined TigerRisk Partners and TigerRisk Capital Markets & Advisory in May 2015 from Willis Capital Markets & Advisory where he was a Senior Vice President specializing in M&A advisory and capital raising for P&C insurance clients. Prior to joining Willis during the 2009 formation of Willis Capital Markets & Advisory, Jarad began his career at Banc of America Securities where he was an Associate in the Financial Institutions Group. With over 15 years as an investment banker focused on the insurance industry, he has been involved in more than 50 M&A and capital raising transactions.
Selected recent transaction experience includes acting as a financial advisor to ABRY Partners in its $1.3 billion sale of York Risk Management Services to Onex, acting as exclusive financial advisor to ACE Group in its $293 million acquisition of Fianzas Monterrey, acting as a Co-Manager and private placement agent on Heritage Insurance’s $86 million IPO and private placement to Nephila and acting as private placement agent to PURE in its $34 million surplus note issuance.
Jarad graduated Cum Laude with his Bachelor of Science in Applied Economics and Management from Cornell University.
Randy Dulecki joined TigerRisk...
Randy comes from Willis Towers Watson Securities, where he was Managing Director, Chief Administrative Officer, and Chief Compliance Officer for nine years. While he was at Willis he designed and implemented all operations and infrastructure in the formation of Willis Towers Watson Securities and subsequently was responsible for all ongoing operations as well as all compliance and regulatory requirements. Randy began his career at Banc of America Securities as a Business Analyst providing operational and analytical support to the heads of the Real Estate, Mergers & Acquisitions, and Financial Institutions Groups. As a Business Manager, while still supporting the Financial Institutions Group, he reported to the COO of Investment Banking and supported that team on several important initiatives such as serving on the management transition and integration teams for three $20+ billion mergers and acting as Subject Matter Expert advisor to the IT organization on all major systems projects and initiatives involving investment banking operations.
Randy has 20 years of investment banking and corporate operations and compliance experience and holds the FINRA Series 7, 24, 63, 79 and 99 securities licenses.
Randy attended Montreat College where he studied Business Administration.
Philipp Kusche joined Tiger...
Philipp Kusche joined TigerRisk Partners in April 2016 as Partner and Global Head of Insurance-Linked Securities (ILS) and Capital Solutions.
Philipp comes from Swiss Re Capital Markets in New York where he most recently was the Head of their ILS Structuring and Origination team covering Insurance Companies, Hedge Funds, Governmental Entities, and Corporate Clients in the U.S., Latin America, and Asia. He joined Swiss Re Capital Markets in New York in 2006 and was responsible for and instrumental in creating and executing billions of dollars worth of CAT bonds, sidecars, contingent capital structures, and other alternative capital products for clients globally, while maintaining a strong focus on product development. As part of such activities, he developed relationships with many key ILS and other institutional investors and maintained a close dialogue with other stakeholders in the ILS space. In addition to such sell-side activities, he structured, priced, and executed a large number of CAT derivatives, mainly on a parametric basis, providing protection to a variety of clients. Philipp joined Swiss Re in 2002, and was initially based at its headquarters in Zurich as a management trainee. Working mainly in the Chief Underwriting Office, he quickly advanced into the global Energy Practice as a property underwriter in London and Zurich.
He graduated with a Bachelor Degree in Civil Engineering from the Bauhaus University in Germany and a Masters Degree in Civil Engineering from the Swiss Federal Institute in Zurich (ETH). His Masters Thesis, supported by Credit Suisse, was on public-private partnerships and their potential in Switzerland.
Patrick Gonnelli has a wealth of experience...
Patrick Gonnelli has a wealth of experience in the financial and reinsurance industries. Pat began his reinsurance career with Towers Perrin as a consultant responsible for the production, trading and development of all ILW business, as well as marketing and placing traditional reinsurance programs. Prior to entering the reinsurance arena, Pat was heavily involved in the investment world. He began his career in Boston, holding multiple positions within John Hancock organization and eventually ING in New York, where he traded equities on all Latin America Exchanges and was responsible for the trading activity of all London clients.
Prior to joining TigerRisk Partners in 2010, Pat served as an Executive Vice President for Tradition Re in Bermuda where he was responsible for the production and development of the Worldwide Property ILW and Property Retrocessional business. Before joining Tradition Re, Pat handled revenue production and development for Carvill's ILW and Property Retro books and was responsible for increasing awareness, revenue production, and trading of the Carvill Hurricane Index (CHI) on the Chicago Mercantile Exchange. Prior to Carvill, he worked for Willis Re in New York where he was responsible for developing their ILW business and was responsible for maintaining and growing their market relationships with new and established hedge funds and investment banks.
Pat is a graduate of the Boston University School of Management and currently holds the FINRA Series 7, 24 and 3.
Michael Forman joined TigerRisk Partners...
Michael Forman joined TigerRisk Partners and TigerRisk Capital Markets & Advisory in April 2017 from AIG where he was a Director in the Commercial Insurance Strategy group. At AIG, he was responsible for executing strategic initiatives for the global commercial insurance business including mergers & acquisitions, strategic investments, joint ventures and new business partnerships. Prior to joining AIG, Michael was an Associate at Willis Capital Markets & Advisory specializing in M&A advisory and capital raising for P&C insurance clients. Before joining the team at Willis Capital Markets & Advisory, Michael was an underwriter at Travelers Insurance specializing in executive and professional liability insurance for the financial services industry.
With over 10 years of experience as an advisor and investment professional within the insurance industry, he has been involved in numerous M&A and capital raising transactions. Michael has his 79 and 63 licenses.
Michael received his Bachelor of Science in Finance, cum laude, from Bentley University and his Masters of Business Administration, magna cum laude, from Babson College.
John Stamatis joined the TigerRisk Partners...
John Stamatis joined the TigerRisk Partners and TigerRisk Capital Markets & Advisory (TCMA) in June of 2015. During his time at TigerRisk, he has contributed to the execution of transactions across the range of products and services offered by TCMA, including M&A advisory, capital raising, and ILS structuring and origination.
Prior to joining TigerRisk, he held the position of Senior Underwriter at Zurich, specializing in financial lines products for North American clients. During this time, he also supported and led several strategic initiatives which impacted Zurich’s pricing models, claim analysis methodology, and approach to portfolio management. Earlier in his career at Zurich, he participated in the launch and development of the company’s Integrated Products platform for small commercial clients.
John earned a Bachelor of Arts in Economics from Harvard University and has passed Level II of the CFA Program.
Tim Fox joined TigerRisk Capital...
Tim Fox joined TigerRisk Capital Markets & Advisory in June of 2016. Prior to joining TigerRisk, Tim was a summer analyst at Deutsche Bank in the Institutional Global Client Group working on financial models and market reports used to advise institutional clients. Before Deutsche Bank, Tim held an internship at AQR Capital Management in Greenwich, CT.
Tim is in his second year as an analyst where he supports a variety of M&A, capital raising, ILS transactions, and has a series 79 license.
Tim earned a Bachelor’s of Arts in Economics from Boston College.
Sophia began her reinsurance career...
Sophia began her reinsurance career with TigerRisk in July of 2015 as a Junior Broker in their New York office. She was part of the current client team working on both property and casualty accounts. She moved to the Capital Markets & Advisory team into an analyst position in November of 2016. Her roles in the group include providing analytical support on mergers and acquisitions, helping to develop financial models, assisting in public and private capital and insurance-linked security offerings, and contributing to the creation of information memorandums, management presentations, and marketing materials.
Sophia completed her Bachelor in Business Administration in Accounting, with a minor in Actuarial Science, from the University of Notre Dame. She currently holds the Associate in Reinsurance professional designation as well as her Series 79 securities license.
Peter began his career with...
Peter began his career with TigerRisk Capital Markets & Advisory in October of 2017. Before joining Tiger, Peter previously interned with Piper Jaffray in Philadelphia and Guy Carpenter in New York.
Peter is a graduate of Temple University, where he earned a Bachelor’s degree in Actuarial Science and Risk Management and Insurance.
Matthew joined TigerRisk Capital...
Matthew joined TigerRisk Capital Markets & Advisory in March of 2018. Prior to joining TigerRisk, he was a Fixed Income Consultant at FactSet Research Systems in New York.
Matthew is a graduate of the University at Buffalo where he earned a Bachelor of Science in Mathematics concentrated in Actuarial Science, magna cum laude, with minors in Statistics and Economics. He has passed Exam P, FM and MFE of the Society of Actuaries Program and Level I of the CFA Program.
Reid joined TigerRisk Capital...
Reid joined TigerRisk Capital Markets & Advisory in July of 2018. Prior to joining TigerRisk, he interned as a Business Analyst at Stanley Black & Decker.
Reid is a graduate of Union College where he earned a Bachelor of Science in Computer Engineering.
Fumie began her career with...
Fumie has been Tony’s Assistant for the past nineteen years. Fumie started working with Tony at Merrill Lynch in 1996. After three years, she moved to Banc of America, Financial Institution Group where she remained for almost ten years. Her most recent experience has been with Willis since 2009.
Fumie received her Bachelor’s Degree in Business from Nichols College in Dudley, MA.
Fumie is fluent in speaking Korean and Japanese, and is proficient in reading and writing Japanese.
Before joining TigerRisk...
Before joining TigerRisk, Marc was general manager of MBeckers BVBA, advising insurers and financial players on capital optimization solutions (Solvency II, Basel III, IFRS 17), M&A projects and risk transfer optimization.
Until July 2017, Marc led Aon Benfield’s ReSolutions team for EMEA, and before that Marc was leading Aon Benfield Analytics EMEA since he joined Aon in February 2007. Marc was also an MD at Aon Securities focusing on EMEA M&A and capital markets opportunities. Marc was very involved in Aon Benfield’s Solvency II strategy and in structuring capital optimization solutions for clients in EMEA.
While at Aon, Marc led the teams that advised VidaCaixa on their €600m VIF Monetisation with Berkshire Hathaway, Ethias on the sale of Bel Re, KBC on the sale of their life settlements portfolio and Talanx and Meiji Yasuda on the $1bn acquisition of Warta, the second largest Polish insurer.
Marc was previously CFO of Dexia Life & Pensions in Luxembourg and he was also the VP Pensions for Nationwide Financial in Luxembourg, leading their European expansion in pensions products.
During his career, Marc advised several international organizations on economic capital and value based management. At the start of his career, Marc worked 5 years as an actuary for ING in Belgium in life and disability insurance.
Marc has 28 years of insurance and reinsurance capital markets experience. Marc is a Belgian life actuary by training, a Maths teacher and he has an MBA from Cornell University.
Michael Wade has enjoyed a long career...
Michael Wade has enjoyed a long career within the London Market insurance industry culminating in his appointment in 2013 as the Crown Representative for Insurance at the UK Government Cabinet Office for a 2 year term to advise on insurance and reinsurance risks – this has included Pool Re, the formation of Flood Re and other projects. He also advised the former & current Chancellor of the Exchequer on the Insurance-Linked Securities markets. In 2015 he was appointed a Senior Advisor to the Cabinet Office. He was appointed (2016) a Senior Advisor to Swiss Re and (2017) a non-executive Director of Neon Underwriting – a Lloyd’s managing agency owned by American Financial Group. In September 2017 Michael Wade appointed Non-executive Chairman of TigerRisk Capital Markets & Advisory (UK) Ltd.
He formed Holman Wade Ltd in 1980 specialising in London Market reinsurance of which he was CEO until 1993. During 1984 Holman Wade merged into H. Clarkson & Co shipbrokers and, once combined, was floated on the London Stock Exchange in 1986 as Horace Clarkson plc where he also remained as a Director until 1993. Following the Lloyd’s crisis, Michael formed Corporate Lloyd’s Membership in partnership with Sedgwick Group plc. They launched CLM Insurance Fund plc which he ran until 1999 then merging with SVB at Lloyd’s ( now Novae Group plc ).
In 2000 Michael formed Rostrum Group – a specialist investment manager focussed upon Lloyd’s listed vehicles on behalf of a series of major UK pension funds; from 2006 he was a partner in Optex Group to develop the Industry Loss Warranty (ILW) market and, in 2011 merged Optex into Besso Insurance Group in which he had acquired the Wells Fargo shareholding. Michael sold these interests in November 2012 and retired from executive responsibilities.
Michael was elected to the Council of Lloyd’s in 1988 and served until 1992; during which time he was also a member of the key Rowland Lloyd’s Taskforce, working closely with McKinsey & Co to analyse and recommend a route forward for the troubled Lloyd’s insurance market. He founded the Lloyd’s Community Programme in 1989. He was a Member of Lloyd’s from 1980 to 2014.
Michael’s interests include opera, orchestral music, architecture and politics. He supports Moorfields Eye Charity Hospital.
Leo Beckham is Managing Director of TigerRisk...
Leo Beckham is Managing Director of TigerRisk Capital Markets & Advisory (UK). He joined TigerRisk Partners (UK) in November of 2016 from Willis where he was a Vice President in its investment banking business, advising on the sale of Chaucer’s UK motor business to Markerstudy and the sale of Brit to Fairfax.
After qualifying as a chartered accountant with Deloitte, Leo moved joined Benfield Advisory (now Aon Securities) where he advised on a number of M&A transactions, including the sale of ICAT Managers on behalf of Vulcan Capital. He subsequently moved to Keefe, Bruyette & Woods, an investment bank focused on the financial services sector, where notable transactions included the acquisition of Omega Insurance Holdings by Canopius and the sale of Alico UK to Swiss Re.
Leo is a chartered accountant (ICAEW) and holds a Bachelor of Arts in Natural Sciences from the University of Cambridge.
Erlend Munthe-Kaas began his career with...
Erlend Munthe-Kaas began his career with TigerRisk Capital Markets & Advisory in April of 2017. Prior to joining TigerRisk, Erlend held the position of equity research associate at Bloomberg Intelligence, where he published research on the European insurance market, with a particular focus on Scandinavia.
Erlend is a graduate of Cass Business School in London, where he earned a Master’s Degree in Banking & International Finance and a Bachelor’s Degree in Business Studies.
Steve Bensinger joined TigerRisk Partners in 2015...
Steve Bensinger joined TigerRisk Partners in 2015 as a Senior Advisor and is based in New York City. Steve has over 40 years of professional and executive experience within the insurance industry, including roles as board member, chairman, president, chief executive officer, chief financial officer, treasurer, comptroller, interim legal officer and human resources officer, and partner with a big four accounting and consulting firm. Steven has been responsible for a wide range of high-level assignments involving expertise in strategic planning, crisis management, operational management, turnarounds, financial management and reporting, mergers and acquisitions, regulatory compliance, spin-offs, restructurings, joint ventures, bank and investment community relations, securitizations, treasury, rating agency relations, and corporate governance.
He has held management and executive positions with national and international insurance and reinsurance companies in which he was called upon to achieve organic growth, perform turnarounds, establish new operating subsidiaries, execute mergers and acquisitions, and attain recapitalization. Steve has demonstrated innovative leadership in helping companies achieve strategic goals and enhance enterprise value.
Steve has held management and executive positions with FTI Consulting, Inc., The Hanover Insurance Group, American International Group, Combined Specialty Group (an Aon Corporation subsidiary), Trenwick Group, Chartwell Re Corporation, Skandia America Corporation, and Coopers & Lybrand. He is also a member of the Board of Directors and Chair of the Finance Committee of the International Insurance Society, a member of the Board of Directors and Strategic Planning Committee of Ronald McDonald House of New York, past member of the Board of Overseers, Leonard N. Stern School of Business, New York University, and past President and Board member, Stern School of Business Alumni Association. Steve also serves as an independent director on the boards of The Doctors Company and Kinsale Capital Group.
He holds a CPA certificate and the CGMA designation.