ADDING MULTIMEDIA New Collins Subsidiary to Provide Financial Advisory and Capital Markets Services.MINNEAPOLIS -- Collins, whose strong growth has enabled it to become one of the world's leading reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. brokers, has formed a new subsidiary - Collins Capital Advisors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control - with plans to assist firms in the insurance and reinsurance industry with investment banking advice and capital markets expertise, Collins President and Chief Executive Officer Patrick Denzer announced today. Gregory G. Clapp, a veteran of insurance practices at Wall Street investment banking firms, has been named managing director and head of Collins Capital Advisors, which will be based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . "Collins Capital Advisors is being established to offer traditional investment banking services in such areas as private equity, debt, mergers and acquisitions, and other strategic financial advice," Mr. Denzer said. "It also will focus on developing and delivering capital market solutions, which could include securitizations, cat bonds or other insurance-linked securities. "We're proud that Greg Clapp, with his exceptional expertise and track record, has joined Collins to lead this operation," Mr. Denzer added. Mr. Clapp has been a senior investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. serving the insurance industry for the last 14 years. Prior to joining Collins, he was a managing director at Fox-Pitt, Kelton, where he led the insurance investment banking practice and served on the management committee. Prior to that position, he held a similar position at Sandler, O'Neill & Partners. He was also a managing director in the insurance practice at J.P. Morgan Chase. "I'm pleased and excited to join Collins," Mr. Clapp said. "The model we are developing to offer knowledgeable, independent financial advice is clearly what the market wants, and what I hope to contribute. "The extensive insights of Collins' professionals, combined with our new financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , will offer a powerful new advantage to companies in the marketplace," he added. Mr. Clapp began his career with Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. in 1983 and worked in leveraged finance and debt restructuring Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: before joining Chase's insurance banking practice in 1993. He holds a bachelor's degree from Williams College and also studied at the London School of Economics The School is a member of the Russell Group, the European University Association, Association of Commonwealth Universities, the Community of European Management Schools and International Companies, The Association of Professional Schools of International Affairs as well as the Golden . Collins, established in 1987, serves clients in the property-casualty, life, and accident & health insurance markets. Headquartered in Minneapolis, it has offices across the United States as well as in London and in Bermuda. It has recorded a compound annual growth rate of 23 percent since 1995. The privately-held company provides reinsurance brokerage services, risk transfer advice and analytical services to insurers, reinsurers, managing general agents and others in the insurance marketplace. Those services include catastrophe modeling, actuarial analysis Actuarial Analysis The analysis of an investment's risk done by an actuary. Notes: A highly educated actuary will use statistics and historical data in an attempt to measure the risk of a particular investment. See also: Actuary, Life Insurance, Risk, Risk Averse , dynamic reinsurance modeling and financial consulting. Additional information is available at the company's website, www.collins.com. |
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