Industry veteran Youssef Sfaif is to be appointed chief operating officer of Bermudian-based Mt Logan Re Ltd, effective July 1.

Mt Logan is the third party capital unit of Everest Re Group Ltd, the island-based global re/insurer.

The company said Mr Sfaif joined Mt Logan at an important time in its growth and expansion and would report directly to John Modin, president of Mt Logan.

Mr Modin said: “We are thrilled to welcome Youssef to our Mt Logan team as he will play a key role in Mt Logan’s growth as we continue to expand our capital base and breadth of offerings.

“Youssef joins a deep bench of multi-disciplined leaders who are successfully steering the development of our innovative investment products and bespoke portfolios for our institutional investors around the world.”

The company said Mr Sfaif brought to Mt Logan a deep specialisation in capital markets and reinsurance convergence, as well as an exemplary track record originating, structuring and executing across a broad array of re/insurance risk-sharing transactions.

He currently serves as a director within the credit and insurance linked investments team of Dutch-based PGGM, where he has led or been a key-deal team member for the structuring of insurance linked investments across sidecars, rated reinsurer joint ventures and collateralised reinsurance funds.

Mr Sfaif has also contributed significantly to the CILI team’s portfolio management efforts, Mt Logan said.

Before joining PGGM in 2017, Mr Sfaif worked in the structured reinsurance business at SCOR Global P&C and Marsh, where he designed tailored and capital-efficient reinsurance and risk financing solutions across a variety of non-life risks.

Mr Modin added: “Youssef is recognised for his innovative approach to the insurance- linked securities sector, and his institutional investment background in this asset class is highly complementary to our business.

“He also brings a unique buy side perspective, which will provide an advantage as we grow operationally and continue to deepen relationships with leading asset managers, pensions, sovereign wealth funds, insurers and endowments.”

Mt Logan is a Bermudian-registered collateralised insurer, which offers alternative capital markets the opportunity to gain exposure to a diversified pool of reinsurance risks through collateralised reinsurance products.

The company has been in operation since 2013 and has approximately $900 million of assets under management as of December 31.