Ex-Hamilton ILS head Ali launches reinsurance venture Radix ILS

By Michael Loney

Jan 27 - (The Insurer) - New Bermuda-based reinsurance venture Radix ILS has been launched by Hanni Ali, who was most recently group head of ILS and sustainability at Hamilton.

Radix’s website states: “Our experienced team aim to develop a high-performance technology platform to enable us to efficiently price, service and allocate capital on behalf of Radix and our investment partners.”

The new venture adds that it will deliver “exceptional service to the global reinsurance market” through “disciplined, technology-driven underwriting”.

Radix's CEO is Ali, who spent more than 10 years at Hamilton, most recently serving as group head of ILS and sustainability since the start of 2024. Ali has also held risk analyst and modelling roles at Allied World and Montpelier Re.

Other Radix co-founders are general counsel Peter Dunlop and principal software engineer David Berton.

Dunlop was most recently a partner at Walkers since 2018, and has also held roles at ASW Law, XL Catlin, Lovells and Gen Re.

Berton most recently was staff software engineer at DBT Labs since 2021. He worked at Hamilton for four years as a senior software engineer for four years before that.

The start-up states that it “provides our partner capital the opportunity to access reinsurance risk returns by investing alongside our team to benefit from our specialist market knowledge”.

Radix adds that by optimising its capital allocations it can cooperate with intermediaries to find solutions for some of the most challenging reinsurance placements.

The website states that Radix’s 2025 launch will initially provide capacity for property reinsurance (AGG, XL, RPP, PPXL, ILW), property retrocession (AGG, XL), specialty reinsurance (AGG, XL), ILW and parametric (AGG, XL, Swap), and property risk reinsurance and retrocession facultative catastrophe reinsurance (XL).