Howden hires capital markets head from Lancashire

London-based re/insurance broker Howden has hired Darren Redhead from Lancashire Capital Management. The hire follows Howden’s acquisition of Bermudian broker Foram last week.

Redhead has headed Lancashire Holdings’ third-party capital management business since 2013. Before that, he was chief underwriting officer of DE Shaw Re Bermuda, the reinsurer backed by hedge fund DE Shaw. Starting his career with Lloyd’s, he issued the first multi-class catastrophe bond in 1994. He also helped form Talbot, where he was deputy underwriter.

Howden announced the acquisition of independent re/insurance broker Foram last Thursday.

“Foram joining us reaffirms our strategy of giving clients access to all key markets via our global insurance market hubs,” said Paul Redgate, deputy chair of Howden Specialty at the time.

“By providing clients with a significant on-the-ground presence in Bermuda, this acquisition also underscores Howden’s commitment to the Bermudian market by investing in on-island expertise to enhance our client offering and to build a leading position in the world’s leading re/insurance markets.”

Whether Redhead will lead Foram or just the capital markets operations is currently unclear.

Howden launched a capital markets division – Howden Capital Markets – in December 2020 “to provide advisory, structuring, and arrangement services” as part of its client offering.