Insurance startup Ledger announced today that Peter Hancock has joined its board of directors. One of the industry’s most influential figures, Hancock has had a distinguished career in banking, insurance, and capital markets. He served as President and CEO of American International Group (AIG). Before that, he was JP Morgan’s CFO and Chief Risk Officer after 20 years leading Fixed Income and Derivatives businesses. He also served as Vice Chairman at KeyBank.
“We are very fortunate to have Peter providing guidance on our board as we fundamentally reshape the value chain that connects insurance risk to investors.”
“Peter’s deep insurance and capital markets experience and ability to draw insight from a range of additional disciplines are exactly what Ledger needs at this point in its expansion. We are excited and grateful to engage with Peter as we continue to grow the insurance securitization market”, said Samir Shah, Ledger co-founder, and CEO.
“I am excited to help Ledger Investing streamline the distribution of insurance risk transparently to investors who are seeking efficient means of diversification.”
“I have contemplated the potential for securitization of insurance risk for almost 25 years, and I am delighted to have found the right platform to deliver a significant expansion of the asset class. Samir has assembled a first-class team that combines deep insurance industry knowledge with creative product development and technical acumen,” added Mr. Hancock.
Ledger Investing, Inc. is a Y Combinator startup building the new standard for insurance financing. Ledger provides capital markets solutions for insurers and institutional investors to sell and buy securities covering all classes of risk portfolios. The company received support from leading Silicon Valley venture capital funds like SignalFire as well as insurance tech-focused investors like Amwins and MassMutual Ventures. Ledger closed its $10 million Series A financing in August 2020, led by AllegisNL Capital, a private venture fund anchored by a global life insurer.
Ledger Capital Markets, LLC is a wholly-owned subsidiary of Ledger Investing, Inc. and a registered securities broker/dealer with the SEC and a member of FINRA and SIPC.
More info: https://www.ledgerinvesting.com