KAIR

Unit Split

Kairos Acquisition Corp.

Raised
$276M
CIK
1824171
Focus
Insurance, Technology
External link: SEC Filings

SPAC Team

Leadership

Peter Bang, our Chief Executive Officer , has over 25 of experience as an investment banker, advising financial services and financial technology companies globally in capital markets and M&A transactions. He has been serving as a Managing Director at ERG Capital Partners, an investment bank affiliated with the London-based Eden Rock Group of companies, which includes merchant banking and investment advisory capabilities for leading growth companies worldwide, since he joined the firm in January 2018. From March 2014 to December 2018, he served as a Managing Director at GCA Advisors, covering M&A and capital raising in the FinTech and InsurTech coverage sectors. From April 2003 to March 2014, he served as a Managing Director in both the Diversified Financials (InsurTech & FinTech) and Insurance sectors at Keefe, Bruyette & Woods until its successful IPO and ultimate sale to Stifel Financial. Prior to that, he served in the Financial Institutions Groups at Fox-Pitt, Kelton in New York from May 2001 to April 2003 and Lazard Frères from March 2000 to April 2001. We believe Mr. Bang is well qualified to serve as one of our directors due to his extensive finance and investment experience.

Jerry Michael de St. Paer, our Chief Financial Officer , has more than 30 years of operating management experience in the insurance industry. He has been serving as a member of the Board of Directors at SCOR Reinsurance US (audit committee member) and SCOR Global Life Re US (audit committee chair and risk committee member) since July 2010. Mr. de St. Paer has also been serving as a senior advisory partner of Grail Partners LLC, an asset management and advisory firm, since July 2010 and a senior advisor of Northstar Companies, Inc. since July 2016. From February 2001 to February 2007, Mr. de St. Paer served as Executive Vice President and Chief Financial Officer of XL Capital Ltd (then NYSE: XL) which was acquired by AXA Group in 2018. From May 1996 to February 2001, Mr. de St. Paer served as a Managing Director in insurance investment banking at JP Morgan and then at Hudson International Advisors. From May 1986 to May 1996, Mr. de St. Paer served in positions of increasing executive responsibility at The Equitable Life Assurance Society of the United States (The Equitable), including: Chief Financial Officer, Equitable Investment Management Company; Senior Vice President, Equitable Investment Corporation; Treasurer, The Equitable; Executive Vice President (Corporate Development), The Equitable; and, from March 1992 to May 1996, Senior Executive Vice President and Chief Financial Officer, The Equitable Financial Companies (NYSE: EQ). During that period, Mr. de St. Paer managed the IPOs and served as a member of the Boards of Directors of Alliance Capital Management and Donaldson, Lufkin & Jenrette (NYSE). From May 1994 to May 1996, after the AXA investment in The Equitable, Mr. de St. Paer simultaneously served as Directeur General Adjoint (EVP) of AXA in Paris responsible for global strategic studies and corporate development (M&A).

In addition to his executive management experience, from 2006 to 2014, Mr. de St. Paer was a leader in US and international accounting standard setting and regulation. From January 2012 to December 2014 he served on the Standing Advisory Group of the Public Company Accounting Oversight Board (PCAOB) in Washington, DC. From January 2009 to December 2013 he served on the Advisory Council of the International Accounting Standards Board (IASB) in London. He served as Executive Chairman of the Group of North American Insurance Enterprises from April 2007 to December 2012, representing the North American insurance industry before the US and international standard setters. He also represented the insurance industry as a member of FASB’s Financial Accounting Standards Advisory Council (“FASAC”) from January 2006 to December 2011.

Robert Glanville will be our Chairman of the Board as of the effective date of the registration statement of which this prospectus forms a part. He has been serving as the managing member of REG Consulting LLC, a financial advisory business focused on advising high growth financial services businesses with a particular expertise in the P&C (re)insurance sector since June 2015. Among other activities, Mr. Glanville became an early investor in and is an advisor to Pie Insurance, a leading InsurTech business focused on small business workers compensation insurance. Mr. Glanville was a founding partner and served as a managing director on the financial services investment team of Pine Brook Road Partners, LLC from June 2006 to May 2015, during which he led a number of investments in the financial services and P&C (re)insurance sectors. He also served as a member of Pine Brook’s investment committee. Mr. Glanville co-led Pine Brook’s founding investment in Essent Group (NYSE:ESNT), now one of the leading US mortgage insurance franchises, and led Pine Brook’s founding investment in Clear Blue Insurance Services, which has grown to become a substantial “fronting services carrier” from formation in 2015. From August 2008 to January 2013, Mr. Glanville served as a Director of Narragansett Bay Insurance Company, a property and casualty insurance company. He currently serves as a director of Essent Group, Wellington Insurance Services, Spotted Risk, Clear Blue Insurance Services, ProWriters, Nice Recovery and Agritecture (all of which except Essent are private companies), and he serves as an Executive Advisor to Aquiline Capital Partners. From March 2003 to May 2006, Mr. Glanville was senior vice president, financial and treasury services for Arch Capital Group, Ltd., a public insurance and reinsurance company (NASD:ACGL). While at Arch, Mr. Glanville led the structuring and formation of Arch’s post-Katrina catastrophe reinsurance sidecar, Flatiron Re, a large “CAT” vehicle. From April 1999 to February 2003, Mr. Glanville was with Warburg Pincus, a private equity firm, and served as Warburg Pincus’ representative on the Board of Directors of Arch Capital. Before joining Warburg Pincus, Mr. Glanville founded FA Services, an emerging markets financial services and investment boutique based in Moscow. From 1988 to 1992, Mr. Glanville worked in New York and Tokyo for Morgan Stanley, an investment banking firm, specializing in corporate finance and M&A. Mr. Glanville holds an AB in American history from Princeton University. We believe Mr. Glanville is well qualified to serve as one of our directors due to extensive operational and investment experience in the insurance and InsurTech industries.

Garrett Donald Koehn will be one of our directors as of the effective date of the registration statement of which this prospectus forms a part. Mr. Koehn has 26 years of complex commercial insurance experience with over 24 years’ experience in a senior executive position. He was a partner and senior management equity holder in four successful private equity transactions involving Tri-City Brokerage, Bisys, Crump, and CRC Group. Mr. Koehn served as a Managing Broker at Tri-City Brokerage when it was purchased from Ulico in 2002 and later sold to Bisys in 2003. Tri-City Brokerage was again taken private and sold to private equity firm JC Flowers and merged with Crump in 2007. Crump was sold to BB&T in 2012 and merged with CRC Group, another wholesale insurance broker. He currently acts as President of CRC Group's Brokerage division. As an active startup advisor and investor in the FinTech and InsurTech space, Mr. Koehn served as Managing Partner at the Batchery Incubator in Berkeley, California, from October 2015 to October 2016 and has been serving as a partner after that. Mr. Koehn also currently serves as an advisor and mentor for 500 Startups, Lloyd’s Lab in London, Barcelona Ventures, and Brown University Lab. He is an investment panel member for Funders Club Venture Capital. He sits on numerous advisory boards, including companies involved in blockchain-crypto, cyber insurance, energy finance, insurance capital markets, MGAs, parametric insurance, real estate, software, and tech-based insurance brokerage. We believe Mr. Koehn is well qualified to serve as one of our directors due to extensive management and investment experience in the insurance industry.

John Lummis will be one of our directors as of the effective date of the registration statement of which this prospectus forms a part. He has been serving as the Chief Executive Officer of Soncy Associates, L.P. since July 2006, managing a private investment portfolio and consulting with early stage insurance businesses. Since June 2017, he has been an Advisor to Metabiota, which analyzes the risks of pandemics for business and government. He has also been an Advisor at Nyca Partners, a venture capital firm focused on financial technology, since July 2018 and an Advisor at Pelican Ventures Group, a private investment firm focused on insurance, since March 2019. Beginning in December 2020, he has been an advisor to Insight Catastrophe Group, LLC, a holding company that owns a managing general underwriter providing property insurance primarily in coastal areas. From April 2013 to May 2015, he was Chief Executive Officer of AQR Re, a manager of portfolios of reinsurance and insurance linked securities. He was Chief Operating Officer of Renaissance Re Holdings Ltd., a reinsurance company, from September 2004 to June 2006; he was Chief Financial Officer from September 1997 to June 2006. From 1991 to 1997, he was a Vice President at USF&G, an insurance holding company. He was an attorney in the corporate practice of Shearman & Sterling from 1982 until 1991. We believe Mr. Lummis is well qualified to serve as one of our directors due to extensive management and investment experience in the insurance industry.

Thomas Motamed will be one of our directors as of the effective date of the registration statement of which this prospectus forms a part. He has been serving as a member of the board of directors of American International Group, Inc. (NYSE: AIG) since January 2019. Prior to that, he was Chairman and Chief Executive Officer of CNA Financial Corporation, an insurance holding company, from January 2009 until his temporary retirement in November 2016. Prior to CNA, from June 1977 to June 2008, Mr. Motamed spent 31 years at The Chubb Corporation, an insurance company, where he began his career as a claims trainee and rose to Vice Chairman and Chief Operating Officer. From June 2009 to November 2016, Mr. Motamed served on the board of directors of Verisk Analytics, Inc., a data analytics and risk assessment firm. He is also a past Chairman of the Insurance Information Institute and is Chair Emeritus for Adelphi University. We believe Mr. Motamed is well qualified to serve as one of our directors in light of his deep experience in the insurance industry, risk management and management of insurance organizations.

Michael J. Stone will be one of our directors as of the effective date of the registration statement of which this prospectus forms a part. He has been serving as a member of the Board of Directors of SILAC Inc., a privately held life and annuity company headquartered in Indianapolis, since June 2020 and a member of the Board of Directors at RLI Corp., an American property and casualty insurance company, since January 2012. Mr. Stone served as the President and the Chief Operation Officer of RLI Corporation from January 2002 to December 2015 and served as a Vice President of Claims of RLI Corporation from May 1996 to January 2002. From December 1990 to May 1996, Mr. Stone served as a Vice President of Claims of Travelers. We believe Mr. Stone is well qualified to serve as one of our directors due to extensive operational and board experience in the insurance industry.

Susan J. Sutherland will be one of our directors as of the effective date of the registration statement of which this prospectus forms a part. Since August 2017, Ms. Sutherland has been serving as a Director of Ascot Group Limited and certain of its subsidiaries. Ascot, a portfolio company of the Canada Pension Plan Investment Board, is a leading specialty property and casualty insurance and reinsurance business. Since May 2015, Ms. Sutherland has also been serving as an independent trustee on the boards of trustees of the Eaton Vance Funds, comprised of approximately 160 SEC-registered investment companies or series thereof invested in a broad array of equity, income and alternative strategies. Ms. Sutherland previously served as a Director of two companies engaged in property and casualty insurance or reinsurance: Montpelier Re Holdings Ltd. from May 2013 to July 2015 and Hagerty Holding Corp. from April 2015 to May 2018. Ms. Sutherland’s corporate board committee experience includes chair or member roles on audit, compensation, compliance, finance, investment, and nominating and governance committees. From October 1982 through March 2013, Ms. Sutherland practiced law at Skadden, Arps, Slate, Meagher & Flom, including as a partner from April 1996 to March 2013. She has over thirty years of experience advising U.S. and international insurance and reinsurance companies, investment banks and private equity firms in a broad range of insurance-related transactions, as well as financial and operational issues. Ms. Sutherland is qualified as a Governance Fellow of the National Association of Corporate Directors and previously served as a board member of prominent non-profit organizations, including LiteracyINC and New York Theatre Ballet. Ms. Sutherland earned a Bachelor of Arts degree in political science, with highest honors, from Denison University and a Juris Doctor degree from New York University School of Law, where she was a Root-Tilden Scholar. We believe Ms. Sutherland is well qualified to serve as a director due to her extensive transactional and board experience in the insurance industry.

Vikas Singhal will be one of our directors as of the effective date of the registration statement of which this prospectus forms a part. He joined HSCM in February 2016 and has been a partner of HSCM since July 2017, with primary responsibilities in the Re/Insurance Strategy Department and the Insurtech Strategy. From September 2010 to January 2016, Mr. Singhal was a partner at Gracie Point, a specialty finance company he helped to start which focuses on specialty lending in the life insurance industry. Prior to Gracie Point, Mr. Singhal worked at Concord Capital Management from April 2004 to September 2010, focused on structured finance strategies in insurance. He started his career at UBS Investment Bank in Structured Products in July 2002, where he developed a number of new product solutions for a wide range of corporate and institutional clients, including unique credit financings, asset finance, specialty finance, bank and non-bank financial institutions and ABS. He was an integral part of the team that completed the first-ever S&P and Moody’s rated life insurance securitization. He is also the HSCM board representative at multiple different entities, including Bold Penguin, Branch Financial, Buckle, Corvus Insurance Holdings, Day Forward, Gracie Point, Metromile, and TensorFlight. Mr. Singhal graduated from Duke University with a Bachelor of Arts in Computer Science and holds a Master in Business Administration from Stanford University, Stanford Graduate School of Business.

Board Observer

Michael Millette will be a board observer of our company as of the effective date of the registration statement of which this prospectus forms a part. He is a founder and has been serving as the managing partner at HSCM since June 2016. Prior to HSCM, Mr. Millette held a number of positions over the course of a 21-year career at Goldman Sachs from August 1994 to March 2015. He was elected a Partner in 2006 and served as the Global Head of Structured Finance, Co-Head of the Structured Finance Capital Committee, and President of the Goldman Sachs Mortgage Corporation over the period after 2006. Mr. Millette was the founding team member of both the Re/Insurance structured finance and principal businesses of Goldman Sachs. He also led teams that developed Goldman Sachs’s current businesses in Transport Finance, Intellectual Property Structured Finance, Private Placements and Project Finance, and spearheaded the development of the Principal Funding business in investment banking. He led the Structured Finance Capital Committee and sector teams in the rebuilding of the Goldman Sachs mortgage and consumer finance businesses following the financial crisis. Prior to his career at Goldman Sachs, Mr. Millette served as a Portfolio Manager of John Hancock Financial from January 1991 to July 1994. Mr. Millette is a member of the Board of Directors of Occam, Weston, Cybercube and Hudson Structured and a Board Observer of Gracie Point. Mr. Millette is also a member of the Board of Trustees of the Inner City Scholarship Fund and the Board of Regents of Boston College. Mr. Millette graduated from Cornell University, Cum Laude, with a Bachelor of Arts in History and holds a Master of Finance from Boston College, Carroll Graduate School of Management. Mr. Millette is a Chartered Financial Analyst.