Year-on-year premium growth averaged 13% at 9M 2022: Gallagher Re report
Gallagher Re, the global reinsurance broker, has bolstered its index-based capabilities and specialty business in Bermuda with two new appointments in Alex McManus and Romain Kapfer.
McManus will lead index-based initiatives on the island working closely with Gallagher Securities, the insurance-linked securities (ILS) arm of Gallagher Re.
Gallagher Re said McManus’s appointment will enable industry loss warranty (ILW) and catastrophe bond capabilities to be available to the Bermudian business with greater access to index-based capacity.
McManus has extensive knowledge of the indexed space having been instrumental in growing Gallagher Re’s ILW offering.
Kapfer’s appointment to lead Gallagher Re’s growing specialty business in Bermuda reflects the strategy to build out a team that complements the direction of travel and growing diversification within the Bermudian reinsurance market.
He most recently led on sales and strategy for the UK’s marine and energy division as executive director. He joined Gallagher Re as part of the Willis Re acquisition having led large international property & casualty programmes, and previously specialised in alternative risk transfer solutions.
Ben Radford, head of Bermuda, Gallagher Re, said: “The Bermudian reinsurance market is intricate, exciting and one in which we see huge value and potential for growth.
“Having the expertise and experience of Romain and Alex in Bermuda speaks directly to our strategy of relevance – ensuring we have the right people on the island, with the right capabilities, for the right reasons. Individuals who can speak to multiple product disciplines and provide our clients with a product agnostic view of how best to access capital in a more capacity constrained marketplace is key to our approach.
Gallagher Re, Appointment, Alex McManus, Romain Kapfe, ILS, Marine, Energy, Insurance, Reinsurance, ILW, Bermuda