GC Securities executive joins Paraline

The Paraline Group has revealed that Paul Rayner, former managing director at GC Securities, is to join its board.

He is also to due be active underwriter of Paraline Syndicate 4242 and SPA 6123 in April, subject to regulatory approval.

Paraline is a Bermuda-domiciled insurance and reinsurance holding company whose principal operating businesses are Asta Capital and Paraline Re.

Rayner brings over 18 years of experience in global insurance markets to the role. At GC Securities he developed and led a series of initiatives in the Lloyd’s and Company markets including M&A, start-ups and capital raises. He has experience in Lloyd’s capacity, reinsurance and securities offerings and has worked with several syndicates across business planning, performance appraisal and their wider operations, alongside developing growth strategies. Prior to joining GC Securities, Rayner served as a director at Aon Benfield Securities. He began his career as an audit manager with Deloitte before joining Aviva as a finance manager.

“We are delighted to announce Paul’s appointment as an active director of Paraline,” said Bruce Schnitzer, chairman of Paraline. We have built a high-quality portfolio of insurance assets and Paul’s experience and expertise will add greatly to our prospects for future success.

“We have known Paul and respected his capabilities for a long time. He was instrumental in the formation of Syndicate 4242 and has continued to remain close to the business. He also has longstanding relationships with many of its underwriting capacity providers and with ICAT, the syndicate’s primary distribution partner. And, Paul advised in the transaction though which we acquired ICAT and again at the time of our strategic investment in Asta. I am certain that he will take to the role of active underwriter of Syndicate 4242 seamlessly, maintain the business and help develop its strategy for the future.