Derrell is founder and CEO of Karson Management (Bermuda) Limited and its subsidiaries, which he established in 2007. With $8.2 billion of K-Note transactions concluded to date, Karson is a market leader in excess reserve, excess risk-based capital and qualifying collateral financing for large international insurance companies.
Derrell also founded The RISConsulting Group LLC, a transactional consultancy and advisory firm established in 1996 together with Hannover Re and Rabobank. RISConsulting specializes in cutting-edge financial risk and capital management risk transfer solutions for top-tier institutions worldwide.
Through his work with RISConsulting and Karson, Derrell developed a unique profile in the field of complex financial risk management while leading RISConsulting to the successful conclusion of $7.4 billion of high profile risk-transfer and risk-financing transactions for large international insurance companies and corporations.
Prior to founding RISConsulting, Derrell spent over 20 years in the international financial markets. He spent 18 years at Citibank in various international locations (Toronto, Hong Kong and London), where he held senior positions in relationship management in fixed income and equity derivatives and in securities trading and structuring. Derrell was also responsible for creating Citibank’s insurance derivatives business and concluded the first catastrophe bond transaction for Hannover Re in 1994.
Derrell left Citibank to join The Bank of Boston in Boston in 1995, where he was responsible for derivatives trading, sales and structuring. During this time, Derrell contributed further to the evolution of the insurance derivatives market by developing the first reinsurance-linked swap transaction, also for Hannover Re, which was ultimately concluded by RISConsulting.
Derrell served as a member of the Board of Directors of Converium AG from its launch in 2001 until its acquisition by SCOR in 2007 (and was its longest standing member). Converium, when floated by the Zurich Group, was the largest ever IPO of a reinsurance group.
Derrell received a B.A. (Magna cum Laude) from Amherst College and an M.A. from the Fletcher School of Law and Diplomacy.
Richard is the CFO and a Director of Karson Management (Bermuda) Limited and Karson Capital Limited.
Since coming to Bermuda in 1981, Richard has held various senior positions at AIG, Pinnacle Re, Centre Re, Stockton Re and Wind River Re.
Richard is also a Director of various other Bermuda companies, including The Shipowners Insurance & Guaranty Company, affiliates of Thomas Miller and affiliates of Macquarie Bank.
Richard is a member of the Institute of Chartered Accountants in England & Wales.
Jeffrey serves as President of The RISConsulting Group LLC as well as General Counsel for RISC Ventures LLC, where he focuses on transaction structuring, new business development and client service. Since the inception of Karson Management (Bermuda) Limited in 2007, Jeffrey has been addressing legal and regulatory matters for the Karson group pursuant to its service agreement with RISConsulting.
Prior to joining RISConsulting in 2006, Jeffrey had worked as a tax practitioner at law firms in New York. He joined The Continental Insurance Company as domestic tax counsel in 1987 and served as a Senior Manager and Director of the Insurance Tax consulting practices at Ernst & Young and PricewaterhouseCoopers from 1994 through 1998. He joined Converium in July, 1998 as Senior Vice President/Underwriting in the Risk Strategies Division.
Jeffrey is a graduate of Brandeis University and received his JD from The Columbia University School of Law and his LLM in Taxation from the New York University School of Law.
Andrew joined The RISConsulting Group LLC in 1998 and is a Managing Director. Since the inception of Karson Management (Bermuda) Limited in 2007, Andrew has been providing a variety of services to the Karson group pursuant to its service agreement with RISConsulting. He also serves as a Director of certain transaction specific US domiciled special purpose Karson companies.
At RISConsulting, Andrew has been instrumental in the origination, structuring and distribution of a variety of transactions including life reinsurance securitizations, catastrophe bond transactions, agent commission securitizations, reserve and capital financing transactions. He has also served as project manager for the launch of specialist structured finance vehicles.
Andrew received an M.B.A. from Boston University and a B.A. from Denison University.
Kerstin has been with The RISConsulting Group since its inception in 1996 and now serves as CFO for the various operating entities of RISC Ventures LLC and Karson Management (UK) Limited. She is responsible for financial, accounting and treasury aspects of group companies.
Prior to joining RISConsulting, Kerstin worked for eight years as an equity research analyst with Enskilda Securities (a subsidiary of SE-Banken), specializing in Swiss stock research across sectors and macro-economic country analysis for large institutional investors. She began her career as a graduate trainee in banking/securities at Citicorp International Bank Limited, London in 1987, where she gained experience in securities trading and sales, derivatives marketing and structuring.
Kerstin received a B.A. and M.A. (Magna cum Laude) in Finance and Economics from Zurich University and is fluent in German, English, French and Italian. She was awarded the CFA charter in 1997.