Collins forms unit to assist insurers, reinsurers

MINNEAPOLIS--Reinsurance intermediary John B. Collins Associates Inc. has formed a new subsidiary, Collins Capital Advisors L.L.C., to provide investment banking advice and capital markets expertise to the insurance and reinsurance industry.

Gregory G. Clapp, former managing director at Fox-Pitt, Kelton Inc., where he led the insurance investment banking practice and served on the management committee, has been named managing director of the new Collins unit.

Patrick Denzer, president and chief executive officer of Minneapolis-based Collins, said in a statement: "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.

"It will also focus on developing and delivering capital market solutions, which could include securitizations, cat bonds or other insurance-lined securities," Mr. Denzer said.