(Image source: Vesttoo.)
Vesttoo, a Tel Aviv-based provider of an alternative reinsurance and investment platform, has announced its appointment of Gaurav Wadhwa, a former Prudential Financial executive, as CFO.
Wadhwa brings over 15 years of experience in financial services, insurance and capital markets to Vesttoo. Over the past decade, he held several global leadership roles at Prudential Financial (Newark, N.J.), including CFO of Asia (ex-Japan) and Head of US Finance & Analytics. Previously, Wadhwa worked at Goldman Sachs (New York) in investment banking, advising companies and boards in M&A and capital markets transactions across different verticals including insurance, banks, asset management, and financial technology.
“Gaurav is uniquely suited to spearhead Vesttoo’s finances,” comments Yaniv Bertele, CEO and Founder, Vesttoo. “His experience and professional achievements speak volumes. He has a global mindset and an ability to lead complex financial processes. With Vesttoo’s rapid business expansion, we couldn’t ask for a better addition to our team.”
“I am delighted to join Vesttoo as CFO,” comments Wadhwa. “Their pursuit to bridge the insurance and capital markets couldn’t come at a better time. I am excited to support the Company in executing its strategic plan and accelerating its growth.”
Building Global Financial Organization
As Vesttoo’s new CFO, Wadhwa is tasked with building a global finance organization and overseeing financial reporting, accounting, tax, treasury, financial planning and analysis, as well as investor relations.
Vesttoo operates an AI-based risk transfer marketplace, providing investors with access to insurance-linked assets in various financial instruments. The company says that insurers benefit from increased capacity from capital market investors, opening up reinsurance options for underserved parts of the market. Earlier this year, Vesttoo announced that it intends to scale its deal flow significantly in 2022, providing more investment options for investors, along with risk transfer solutions for insurers.
Vesttoo describes its mission as opening access to life and property/casualty insurance-based risk transfer and investments. The company says its proprietary AI-based technology facilitates risk transfer between insurance companies and institutional investors, providing insurance-linked investments to asset managers of all types while enhancing risk transfer and capacity in the life and P&C insurance markets.