Capsicum Re highlights mortgage reinsurance potential with new executive appointment

21-08-2017

Capsicum Re has appointed Steven Rance to lead its new mortgage indemnity reinsurance business division, an area of the market where it sees a great deal of promise.

“The mortgage indemnity reinsurance market is largely untapped and has a huge potential for growth, and we will work closely with our network to offer the broadest access to both capacity and capital, said Rupert Swallow, CEO of Capsicum Re. “This is a great opportunity for us and I am delighted to welcome Steve to the team.”

The company said that Rance will begin his new role in February 2018 and will report to Swallow.

Rance was previously executive vice president at JLT Group. Whilst there, he was the architect of NewBuy, the UK’s first government-backed mortgage indemnity initiative. He has also led JLT Global Mortgage Solutions since its establishment in 2008, assuming responsibility for all aspects of profit & loss, strategy and international business development.

Before joining JLT, Rance was managing director at Radian Europe and Genworth Financial before this. In his early career, Rance worked for a number of top European banks, gaining experience in business strategy, affinity loans and the mortgage sector.

“Capsicum Re is no longer an upstart start-up; it is now an established challenger with an enviable record of attracting the highest calibre talent, and Steve’s joining us is a testament to that fact,” said Swallow. “I do not believe there is anyone better placed to lead this division; it is a new venture for Capsicum Re, but a longstanding area of expertise for Steve, whose reputation and accomplishments thus far precede him.”

Capsicum, reinsurance, mortgage

Bermuda Re