Telecom Signaling Industry News

TMCNet:  Rewire, New Financial Technology Start-up, to Focus on Originating, Structuring and Placing Insurance-Linked Securities and Catastrophe Reinsurance Using Innovative Technology

[September 05, 2014]

Rewire, New Financial Technology Start-up, to Focus on Originating, Structuring and Placing Insurance-Linked Securities and Catastrophe Reinsurance Using Innovative Technology

PHILADELPHIA --(Business Wire)--

Rewire Holdings LLC ("Rewire") has officially launched today. The company is seeking to change how catastrophe risk is being syndicated in both the reinsurance and capital markets. The vision is to form a highly specialized and independent team of capital markets and insurance professionals that will originate, structure and distribute reinsurance risk. The team will focus on increasing the transparency, efficiency and execution of capital markets based transactions by developing a web-based closed-end marketplace for insurance companies and investors to transact directly.

The Rewire co-founders Stefano Sola and Richard Pennay are joined by founding team members Vincent Myers, a seasoned insurance-linked securities professional with 5 years of cat bond structuring experience, and Sangyeop Lee.

Co-founder and Chief Executive Officer, Stefano Sola, has 20-years of capital markets experience both as a banker and as a structured finance and corporate issuer. Most recently Mr. Sola was the Chief Investment Officer at JGWPT Holdings Inc. (NYSE:JGW) where he built JGWPT's enviable financing and securitization platform with over $5bn of financing actiity in the public and private capital markets since 2010.

Co-founder and President, Richard Pennay, has extensive experience in the insurance-linked securities industry having worked as a cat bond structurer since 2006. Mr. Pennay has been at the forefront of further advancing the insurance-linked securities market, having structured many landmark catastrophe bonds for European, Japanese and US insurance companies. Mr. Pennay pioneered the creation of PERILS in Europe in 2009.

Mr. Sola said, "We are very excited to launch this new venture with a leading team and look forward to continuing and expanding our industry relationships with insurance companies and investors alike." Mr. Pennay added "Rewire fully intends to take reinsurance and capital markets convergence to a new frontier."


Rewire is a privately owned company founded in 2014 that seeks to apply financial technologies with significant structuring and distribution expertise to disrupt the conventional paradigm of reinsurance and insurance-linked capital markets. For more information on Rewire please visit Private placements are currently offered through a partnership with SDDCO Brokerage Advisors, LLC, Member: FINRA/SIPC ("SDDCO-BA"). Rewire and its affiliates are independent and unaffiliated with SDDCO-BA. All securities related services offered by Rewire-associated persons are done so in their capacities as registered representatives of SDDCO-BA.

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