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PGBUTLER

PGBUTLER

Insurance and Reinsurance Consultancy Services

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Capital Market Transactions


In 2006, PG Butler conceived and successfully created “Puma”, the reinsurance industry’s first actively managed, multi-peril, multi-territory, multi-year catastrophe investment fund. In that ground-breaking transaction, which required a unique combination of executive and technical abilities, all of the essential underwriting-related, technical and  modelling-related work was carried out by PG Butler, who also worked closely with, and coordinated the efforts of, teams from:

  • Standards & Poor’s, New York
  • Dresdner Kleinwort, London
  • Tillinghast, London
  • Norton Rose, London
  • Eqecat, London
  • Fox-Pitt Kelton, New York
  • A panel of fifteen institutional investors from the UK, Europe and USA
The result was four years as the Standard & Poor’s designated “Key Man”, Chief Capital Raiser and Sole Underwriter for the “Puma” transaction: annual project value: $182,500,000 for three years. The transaction expired with no losses, despite Hurricane Ike in 2008.

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