David is co-founder and Managing Director of XS Reserve Ltd.
He began his career as an international reinsurance underwriter in the London Market. In 2001 AIG chose David to underwrite a portfolio partnering Berkshire Hathaway following September 11th.He was subsequently appointed Regional VP for AIG Global Energy in Africa, Middle East, Mediterranean and Southern Asia. In 2006 he saw the opportunity technology created to develop better risk financing and transfer solutions for corporate clients, until then heavily dependent on bank products and services. These tools would reduce funding costs, lift advance rates sonf mitigate bank credit risk more effectively than other insurance options.
He went on to co-found XS Reserve Ltd in 2014 with his late partner Alastair Malcolm. Alastair's background was accounting - he was an FCA - and trade credit but one of his many outside passions was engineering. He built and flew his own airplane. David thought any man with this much capability and confidence could engineer more effective financial tools for corporate treasurers. In 2008, this turned out to be prescient. Alastair's idea was simple; provide insurance companies with a specific service for their clients focused on their self-insured risks. One that improves the funding terms their corporate clients receive by strengthening their clients creditworthiness; similar to corporate life assurance.
David believes adversity creates innovation and opportunity. The role contingent liquidity (or lack thereof) played in the financial crisis is underestimated. Helping entities fully fund their chosen level of skin-in-the-game on day 1 reduces their exposure to liquidity risk and can reduce operating costs. These simple aims are our company's focus.
Alan is Chairman of XS Reserve Ltd and 3 other privately – owned groups. Previously, he was Senior Partner of Price Waterhouse London.
He has been Chairman of 3i Group, Five Arrows Finance Ltd, Utilico Investment Trust plc and Deputy Chairman of Cable and Wireless plc and Ashtead Group plc.
He was previously a Non – Executive Director of British Steel plc, N.M. Rothschild, Forte plc and Legal & General plc.
Geoffrey is an Executive Director of XS Reserve Ltd and is based in New York. During his 40 year career with PricewaterhouseCoopers he served many multinational clients and held several top management roles including Managing Partner of Price Waterhouse UK and Price Waterhouse Europe and Global Leader of Operations for PwC. For several years prior to his retirement from PwC he was the CEO of their large Bermuda based captive insurer. He also continues to chair another substantial Bermuda captive insurer and serves on the Boards of a publicly quoted US insurance company and its Lloyd's Syndicate.