Jelto Borgmann
Captive portfolio manager
HDI Global SE
Personal bio: I’m originally from Emden, which is located in northwestern Germany on the North Sea coast. In my free time, I enjoy listening to audiobooks, playing the piano, swimming and running. These activities help me relax, unwind and allows me to think more creatively.
Professional profile: I graduated with a master’s degree in mathematics from the Leibniz University in Hannover. During my studies, I spent a semester abroad in Bristol and had the opportunity to gain initial professional experience through an internship at Allianz in Munich. In 2016, I started my job as a captive portfolio manager at HDI Global where I since have gained extensive experience in fronting and sophisticated captive structures for clients worldwide. Additionally, last year I supported our team at HDI Re in Dublin with their International Financial Reporting Standards (IFRS) 17 project for a six-month period. In addition to working fulltime, I studied actuarial science, completing my degree at the end of last year.
How did you end up in the captive industry?
For my first job, it was very important to focus on direct client contact and international experience. As most of the jobs in the actuarial field do not emphasise these points, I was excited to discover my job opportunity at HDI. After four years at HDI, I can happily say that I have never regretted it.
What has been your highlight in the captive industry so far?
We had a very complex deal at the end of last year mainly due to client’s requirements. Together with our legal team and the underwriters we found a great solution which greatly satisfied the client, was highly profitable and demonstrated to the market that HDI is much more than just a mere fronter. That was a great success.
What/who have been your influences in the captive industry?
There are so many people at HDI and in the market from which I learned greatly. I could not possibly list them all.
One person who is definitely on the top of that list is my manager Dirk Schilling. In addition to sharing his knowledge of the insurance industry with me, he gave me the opportunity to take responsibility right from the start.
He taught me that you do not need to have all the expertise yourself if you are surrounded by a network of highly capable people.
What is your impression of the industry?
It’s a rapidly developing industry in which you can find a lot of smart people from different fields. Very often there is no standard solution for problems and, therefore, a great deal of creativity always is required.
What are your aspirations for your career in the captive industry?
We at HDI have great people with a great skillset. My aspirations are to work closely with these people and bundle their skills to provide our clients with the best service and solution they can get in the market.
What advice do you have for someone considering a role in the industry?
Build a network of great people who can help you in all the fields where you don’t have the expertise and do not be afraid to try something new.
Matthias Schwarz, managing director, HDI Reinsurance (Ireland) SE “I rarely come across young talents who stand out like Jelto. He worked for me as an actuary during his time in Dublin and supported me with our IFRS 17 project. Besides his comprehensive actuarial skills, he is gifted with quick-wittedness and great charisma. While Jelto’s work has continued to pay dividends long past his tenure here, I certainly miss working with him every day.”
