PRP Performa will expand its presence and team beyond the shores of Bermuda into the US captive marketplace. Starting operations on 1 July, Performa Limited (US) now has local offices in Vermont and South Carolina.
Hugh Barit, Chairman and CEO of Performa said that establishing a presence on-shore fulfills a long-term goal to help domestic US captives grow.
The US offices are led by David Kilborn, CFA, chief investment officer for Performa and its affiliates as well as president of Performa Limited (US).
Kilborn, based in the firm’s South Carolina office, spent 13 years from building and managing the institutional fixed income business at Dwight Asset Management in Burlington, Vermont.
David remarked: “I am delighted that our group effort at Performa over the past year has brought us to a successful launch of company’s US initiative. To extend the reach of our firm and our people who possess such extensive experience in helping Captives manage their balance sheets will also position the firm to help other institutional investors.”
To facilitate the new US presence, Derek Martisus, previously of Marsh Management Services and Dwight Asset Management, has been hired as the new head of US Insurance Solutions. Martisus will be responsible for business development and client relationship management for Performa’s US client base.
Performa has also expanded its investment team by adding two new fixed income sector portfolio managers joining the group in August. The hires enhance coverage of the investment grade corporate bond and structured products sectors.
