Former Aon Bermuda chair joins Cayman start-up reinsurer

Paul Markey, the retired chairman of Aon's Bermuda based insurance and reinsurance broking operation, has joined the board of a new reinsurer that has launched in the Cayman Islands.

Markey will serve as an independent director on the board of directors of Crosswinds Re, a specialty reinsurance business vehicle established by Crosswinds Holdings.

The new venture has been formed with an initial $200,000 regulatory capital contribution made by Crosswinds through a newly established fund structure, Crosswinds Private Equity Partners.

Markey spent 21 years in Bermuda, joining Aon's Bermuda operations in 1994 with a mandate to implement a reinsurance broking strategy in Bermuda following the emergence of the Bermuda property catastrophe market in 1992 and 1993. Prior to joining Aon in 1989 he spent 10 years with Gen Re in both the US and London. Markey started his career with a Lloyds syndicate in the 1970's.