Paraline Group, a Bermuda-domiciled insurance holding company controlled by Elliott Management and Wand Partners, today announced that it has retained the services of Andrew Holderness as a Senior Advisor on insurance matters to Paraline, Elliott and their investee companies.
Mr. Holderness recently retired as the world-wide practice head of insurance at Clyde, a leading London-based law firm serving the insurance industry. In addition to his senior advisory role with Paraline, he recently served on the committee of the Capital Lab at Lloyd’s as a part of the Future at Lloyd’s.
In his role as a Senior Advisor to Paraline, Mr. Holderness will advise across Paraline and other Elliott insurance investments which include:
- Aeolus Capital Management, a leading manager of institutional assets invested in collateralized reinsurance and retrocession risk, with over $4 billion of assets under management.
- Prosperity Group, a life insurance and annuity business headquartered in New York City, with total assets of approximately $2.5 billion.
- Asta Capital, the pre-eminent third-party manager of Lloyd’s syndicates that presently manages approximately £1.3 billion of premium income at Lloyd’s, and
- Beat, a rapidly growing incubator/investor/manager of specialty managing general agents and the manager of Beat Syndicate 4242 at Lloyd’s.
Bruce Schnitzer, Chairman of Paraline, said: “We are delighted to have Andrew join us as a Senior Advisor. We have long benefitted from his sound advice and counsel and look forward to working more closely together to provide assistance to our current investments and consider new investment opportunities.”
Andrew Holderness said: “For many years, I have very much enjoyed working with Bruce and his colleagues. I am therefore excited to be asked to continue as a Senior Advisor on insurance matters to Elliott, Paraline and their investee companies”