Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralised reinsurance underwriter, has announced the promotion of Lynette Pirilla Walter to Chief Legal Officer of the asset manager and the hiring of John Drnek of RenaissanceRe’s as General Counsel for its Bermuda operation.
She’s seen as an expert in collateralized insurance and reinsurance products, catastrophe bonds and other insurance-linked securities and related investment vehicles.
Walter has provided input into Elementum’s investment structuring and review process during her time with the company.
She has also assisted with the build out of the firm’s legal and compliance functions.
Before joining Elementum, Walter practiced at law firm Sidley Austin, LLP, focusing on a variety of corporate securities and regulatory matters, largely in the insurance and financial services industries.
Elementum has also announced the hiring of John Drnek as General Counsel, Elementum (Bermuda) Ltd., a position he will occupy from mid-April.
Drnek joins from his most recent position as SVP and Legal Counsel at Bermuda based reinsurance firm RenaissanceRe.
He has worked at RenRe for just over two years, providing counsel on legal, compliance and regulatory matters.
Before his time at RenRe, Drnek worked at Tokio Millennium Re overseeing operations in Bermuda, and also held roles at law firms Mayer Brown, Hogan Lovells and Cadwalader in New York.
The pair of legal experts will work together, alongside the Elementum leadership team, to make strategic enhancements to the ILS manager’s product and services strategy, helping it to navigate the regulatory landscape and ensuring it is is well positioned to serve its investors.
Elementum has bolstered its ILS operations in recent months with a number of hires, not least the addition of Todor Todorov in a business development and investor relations role.
The company also added Shabnam Ahmed as Senior Vice President, Underwriting in its Bermuda office in October 2020.
Elementum Advisors also announced a new, higher risk and return ILS investment fund strategy focused on retrocessional reinsurance in January.
The company reached $4.4 billion in ILS assets under management at the end of 2020, according to the latest data in our Insurance-Linked Securities Investment Managers & Funds Directory.
