SRS hires former Aon exec Scherer in Bermuda, as ILS build-out continues

Strategic Risk Solutions, Inc. (SRS), an independent provider of insurance, reinsurance and captive management and consulting services, has announced the hiring of Charles ‘Chuck’ Scherer in Bermuda, as the firms insurance-linked securities (ILS) ambitions continue to expand.

Strategic Risk Solutions (SRS) has been steadily expanding into the the insurance-linked securities (ILS) management and fund administration sectors, seeing an opportunity to grow the business through provision of services to the ILS sector.

The company already has both Bermuda and Guernsey representation with significant ILS management and servicing experience, providing capabilities to manage transformers, segregated and protected cell companies, special purpose reinsurance vehicles and other ILS-relevant structures.

Now, the company has announced the hiring of Chuck Scherer in Bermuda, another ILS-experienced executive and a former employee of Aon.

Scherer has joined SRS Bermuda as a Senior Vice President – Insurance Linked Securities (ILS) in its Hamilton, Bermuda office.

He will report to Jonathan Reiss, Chairman of SRS Bermuda, and become a key member of the Bermuda leadership team, with responsibility for further expanding SRS’ operations in the ILS sector.

“Chuck has a proven track record of developing ILS products across both Property & Casualty (P&C) and Life sectors, especially with respect to structuring and licensing catastrophe bonds, transformers, sidecars, and life insurance securitizations,” Reiss commented. “Chuck also has considerable experience managing captives and commercial insurance and reinsurance clients in both Bermuda and the United States. His breadth of experience and versatility will be a huge asset to our growing team at SRS.”

Most recently, Scherer had a role as a Controller for Florida-based surety insurance company, Roche Surety and Casualty Co.

Prior to that, he was SVP, Insurance-Linked Securities at Aon Bermuda where he worked for seven years focused on the ILS sector.

Before that he worked at Marsh USA, as a Vice President managing special purpose financial captives and commercial insurance clients.

Scherer said, “I have long admired SRS’ independence and dedication to client service, and I noticed their commitment to the ILS sector which fits perfectly with my experience. I am excited to have this opportunity in a dynamic and growing business.”