ILS Capital Management, Ltd., an investment management company based in Bermuda that specialises in investing in collateralised reinsurance and insurance-linked securities, announced that, subject to Bermuda immigration approval, Brian Gulbransen and William Mulcahy will be joining the firm effective July 1, 2013.ILS Capital also announced that effective October 1, 2013, in addition to property catastrophe reinsurance, it will be investing in specialty reinsurance contacts. These investments will be included in the firm's flagship fund, The 1609 Fund. Additionally, the firm will offer managed accounts with specialty reinsurance investments to institutional investors.ILS Capital will be the among the first investment managers to make specialty reinsurance available to institutional investors. Chairman and CEO Don Kramer said, “Specialty reinsurance was a significant contributor to my previous companies’ success, and I believe it will be a key contributor to our portfolio’s returns. I am excited to be able to offer specialty reinsurance to institutional investors and to work with Brian and William again. They are highly regarded insurance professionals that have a strong understanding of the specialty reinsurance market and I am pleased that they have decided to join us.”Gulbransen will be the chief underwriter, specialty re and a member of the firm’s investment committee. He will be responsible for ILS Capital’s specialty reinsurance portfolio. Prior to joining ILS Capital, he served as chief underwriter of marine, energy and aerospace at Ariel Reinsurance Co. Ltd. Prior to joining Ariel Re, Gulbransen was the chief underwriter of marine, energy and aerospace with White Mountains Underwriting Ltd. He also helped establish the Greenwich, CT; Dublin, Ireland and Bermuda offices for White Mountains. Prior to joining White Mountains, he held the position of vice president and manager of marine and energy reinsurance for NAC Re.Mulcahy will serve as chief actuary and a member of the firm’s investment committee. Prior to joining ILS Capital, he was employed at Securis and, prior to that, was chief actuary at Ariel Re. Prior to joining Ariel Re, he was chief actuary of White Mountains Underwriting Ltd. and LaSalle Re. He is a Fellow of the Institute of Actuaries.