Radix ILS has announced the appointment of Rachel Barnes Binnie and Gordon Jin, two professionals with significant experience in the reinsurance and insurance-linked securities (ILS) sectors.
Binnie joins as a portfolio manager, bringing a decade of experience in property reinsurance. She previously served as a retro broker at Aon in Bermuda, where she built a strong network of carriers, brokers, and capital providers in global reinsurance markets. Her background includes roles in underwriting and catastrophe modeling, as well as a research career in ocean sciences.
Jin, an actuary with a focus on retrocession and industry-loss warranty (ILW) instruments, joins the team after four years at Aon, where he served as VP – Retro/ILW Actuary. His experience spans global reinsurance markets, having worked at Guy Carpenter in Shanghai and Willis Towers Watson in Toronto. Jin will contribute to the company’s ongoing work in actuarial analysis and reinsurance structuring.
Radix ILS emphasized the combined expertise of Binnie and Jin in broking, underwriting, and actuarial science.
“We’re thrilled to announce two fantastic additions to the Radix ILS team,” the company stated in a LinkedIn post. “At Radix ILS, we’re building something special – a technology-driven approach to reinsurance that tackles the most challenging placements. Rachel and Gordon's combined expertise in broking, underwriting, and actuarial science makes them perfect additions as we continue building.”
Hanni Ali, CEO of Radix ILS, welcomed the new hires: “I’m delighted to be adding Rachel and Gordon to the team. Their expertise positions Radix ILS for success.”
The insurance-linked securities (ILS) market is poised for continued growth in 2025 after a strong 2024, with alternative capital reaching $107 billion, driven by rising catastrophe bond volumes, according to analysts of Lloyd’s List Intelligence.
Bermuda remains the dominant hub for ILS, despite regulatory reforms in places like Hong Kong and Singapore. Experts predict further expansion, with $10 billion in additional capital expected and a robust pipeline of catastrophe bond issuances. While returns were slightly down in 2024, the market remains attractive to investors, analysts note. Regulatory changes in various regions may boost ILS activity, but Bermuda’s position is expected to remain unchallenged.
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