Inver Re hires Howden Capital Markets chief

Inver Re, which has the largest independent broking operation in Bermuda, has appointed Mark Shumway to lead its new advisory practice.

Shumway was previously head of advisory at Howden, where he launched Howden Capital Markets. Prior to Howden, Mark was global head of advisory at JLT Re, managing director and head of strategic advisory for APAC at Guy Carpenter.

He has spent over 20 years advising management teams on the launch of new re/insurance carriers and the expansion of others, bringing fresh capacity to the market. 

Inver Re said he has also guided multiple funds in their early investments in re/insurance risk on a collateralised basis and arranged investment in capacity vehicles. He is an expert in structuring and arranging transactions with alternative capital providers, in insurance credit ratings, solvency regulation, corporate finance, and sector M&A. 

Based in London, at Inver he will lead a new advisory practice, working with a growing team of analytics specialists who support clients with bespoke solutions and insights. 

Inver Re launched in 2021 as part of the $13 billion premium Ardonagh Group. It has doubled in the last year to employ 100 experts across the major reinsurance hubs of London, Bermuda and the US, and is now the largest independent broker in Bermuda. 

Its connected teams advise clients across reinsurance broking, capital solutions and strategic advisory. 

Chris Sharpe, head of business development, strategy and innovation said: “Mark brings a remarkable depth of experience and a deep skillset to the Inver Re advisory and analytics team. We are thrilled he has chosen Inver Re for the next chapter of his career and very much look forward to working with him to deliver our world class proposition to clients.”

Shumway said: “I’m excited to join the talented teams at Inver Re and further expand its services to clients across the world. I can’t think of a finer platform from which to provide clients with insight and customer care — fundamentals often lacking within the broking oligopoly.”