Accelerant hires ILS expert Jay Green from Goldman Sachs as Global CFO

Accelerant, the insurtech that aims to help its members exchange and transfer risk more effectively and also connect them with long-term capital, has made a key hire in Jay Green, an executive with significant insurance-linked securities (ILS) experience, who will join the company as its Group Chief Financial Officer.

Jay Green has worked in ILS and reinsurance capital markets for well over a decade, with a career that has spanned ILS structuring and distribution.

Green worked at Swiss Re Capital Markets as a VP in its ILS team, then moved to reinsurance broker Guy Carpenter’s GC Securities as an SVP, before then moving to investment bank Goldman Sachs where he was a Managing Director and Head of Insurance Structured Finance within the Investment Banking Division, with a focus on reinsurance capital markets.

Green led the team responsible for alternative capital raising and insurance-linked securitization at Goldman Sachs.

From November 1st, Green will join Accelerant as Group CFO, taking on responsibility for its worldwide financial planning and analysis, as well as investor relations and capital markets activities.

Accelerant recently launched its first third-party capital vehicle, a $175 million reinsurance sidecar structure named Flywheel Re.

Flywheel Re was designed to provide multi-year risk capital to Accelerant and its underwriting-led specialist members and is backed by capital market investors.

“Jay is a strategic thinker who has consistently sharpened our perspective on how to expand access to capital and better align incentives across the insurance value chain,” Jeff Radke, CEO and co-founder of Accelerant commented on the hire.

Adding, “Jay has demonstrated that he will be a strong financial steward, and I’m confident that he will be a key contributor to our continued growth. We’re thrilled to have him join the team as we continue to transform the industry for the better.”

“I’m excited to join Accelerant and bring my experience to bear on behalf of investors and insureds as we improve outcomes in the space by fundamentally reshaping infrastructure available to underwriters,” Green added. “It’s a great opportunity to join a team with an aligned worldview and a big opportunity ahead.”

Interestingly, Goldman Sachs & Co. LLC was the exclusive placement agent to Accelerant for the Flywheel Re sidecar, so Green would have been well-known to Accelerant through its activities in setting up its first ILS vehicle.