JLT Re Global Mortgage Solutions Launched to Address Mortgage Risk in the US
05 May 2016
- Steve Rance will be the driving force in this new initiative
- Built on in-depth JLT experience of Mortgage Insurance
JLT Re, the global provider of reinsurance broking and consultancy, has launched a new operation in North America – JLT Re Global Mortgage Solutions. Working with Government Sponsored Entities (GSEs), Domestic Mortgage Insurers, Mortgage Lenders and House Builders this business will provide (re)insurance structures which can help all these entities manage their mortgage risk and enhance their core propositions. Steve Rance has been appointed Executive Vice President of this new offering, which is part of JLT Re (North America) Inc.
“This is a great opportunity for JLT Re to build on the extensive experience and specialty expertise from across the JLT Group in mortgage risk,” said Ed Hochberg, CEO, JLT Re in North America. “Steve Rance is the ideal person to drive this initiative. In addition to more than two decades of experience in mortgage risk management and insurance, he was instrumental in the launch of JLT Lending Risk Solutions nine years ago. During this time Steve delivered NewBuy, the UK’s first Government backed mortgage indemnity programme which was conceived, implemented and is still managed by JLT. Steve will be working closely with Gregg Holtmeier who leads our western region and brings additional experience and capability to this offering.”
Prior to joining JLT in 2008 Steve was Managing Director for Structured Transactions at Genworth Mortgage Insurance and European Managing Director at Radian, a leading US mortgage insurer.
Steve Rance, said: “Whilst today's US mortgage marketplace benefits from improved macroeconomic factors, following the global economic decline of 2007 to 2010, the GSE’s are working to share credit default risk through the capital markets and the (re)insurance markets to support liquidity and stability in the US housing market.
“We have been working for many years with a diverse range of (re)insurers across Europe, Asia and around the globe that are now looking for intelligent ways to support the US mortgage insurance and housing market. For myself and the wider team we are very excited about working with clients in this area, introducing new ideas and capacity generated through almost ten years of post-downturn mortgage risk management.”
Gregg Holtmeier concludes: “This is clearly an area where JLT Re can offer innovative solutions built on our experience and the unique insight created through our proprietary analytical tools.”
- ENDS -
Tel: +44 (0) 20 7558 3387 / +44 (0) 79 2058 6032
NOTES TO EDITORS:
About JLT Re
JLT Re’s trusted team of 700 colleagues worldwide combines market leading expertise and proprietary analytical tools with the freedom to challenge conventions.
Deep specialist knowledge and extensive experience of both the reinsurance market and clients’ own industries and sectors enables JLT Re to ask smarter questions, innovate and deliver better results tailored to meet client needs.
JLT Re is part of the Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
For further information about JLT, please visit our website www.jlt.com.