Benjamin Somers has been appointed managing director of business development at Aeolus Services Corp, the US subsidiary of the Aeolus Capital Management Group.

Aeolus is based in Bermuda, and manages over $3 billion of assets on behalf of institutional investors globally.

Aeolus Capital Management Ltd, which made the announcement, manages capital on behalf of investors seeking the superior risk adjusted returns and diversification benefits available from investing in the property catastrophe reinsurance and retrocession market.

Mr Somers will be based in the US and report to Aditya Dutt, partner and president.

The appointee has nearly 25 years in business development, alternative asset management, debt capital markets and corporate banking.

Prior to joining Aeolus, Mr Somers was a partner and head of business development & investor relations at Elementum Advisors.

During his tenure, he managed Elementum’s business development team, directed capital formation and investor relations and was a member of Elementum’s senior leadership team.