Banyan Risk Appoints chief underwriting officer

Specialty manging general agent and insurtech pioneer Banyan Risk has appointed insurance veteran Ben Munro (pictured) to the newly-created role of chief underwriting officer.

Munro will be responsible for overseeing the execution and achievement of Bermuda-based Banyan Risk’s plans for profitable growth globally, as well as using his depth of experience in the Bermuda market and InsurTech industry to enhance Banyan’s data-driven models, the company said.

Banyan Risk launched in 2021 and creates bespoke directors’ and officers’ (D&O) insurance risk solutions for life sciences, global initial public offerings (IPOs), the technology sector, and special purpose acquisition companies (SPACs).

Munro has held several senior underwriting leadership positions at AIG, Chubb and Markel, in both Canada and Bermuda. In 2018 Mr. Munro co-founded, and was chief executive Officer (CEO), of Briza, a software firm focused on enabling digital connections between insurers, distributors and customers.

“We couldn’t be more delighted that Ben will be joining the Banyan team,” said Tim Usher-Jones, co-founder and CEO of Banyan Risk. “Ben’s extensive understanding of the global insurance market combined with his market-leading expertise and experience of D&O, Financial Institutions and Cyber business lines will be central to our continued profitable growth. And with half a decade spent building a successful InsurTech company, we will continue to build out a best-in-class data and technology offering. He will greatly enhance our client and broker experience, and strengthen our global team.”

Mr. Munro said: “I am extremely excited to be joining the Banyan Risk team as they continue to expand globally and look forward to helping to achieve our ambitious growth goals. We have a phenomenal opportunity in front of us.”