Roosevelt Road Re brings on board Argenta and Brit Re veterans
Roosevelt Road Re has bolstered its team with former Argenta underwriter Duncan King and Brit Re’s Joe Bonanno.
King will become the Class 3A Bermuda reinsurer’s new chief underwriting officer in early 2022, following his resignation as senior underwriter for casualty and specialty treaty at Argenta. He brings almost four decades’ experience in the Lloyd’s market.
Bonanno, meanwhile, begins immediately as head of reinsurance, Bermuda, and senior vice-president of underwriting. He left Brit, where he was a senior vice president and chief underwriting officer, back in February, and before that was a decade with Markel.
He will report directly to Dan Hickey, CEO of Roosevelt Road until King begins.
Roosevelt Road is 40% owned by non-life legacy business insurer Randall & Quilter Investment Holdings and 60% owner by Tradesman Program Managers New York-based managing general agent. In March, R&Q increased its stake in Tradesman from 35% to 40%.
Dan Hickey, CEO of Roosevelt Road and CEO and founding partner of Tradesman, welcomed the new hires as another stage in Roosevelt’s plans to “diversify and move forward in creating a bespoke reinsurer in Bermuda”.
Ken Randall, non-executive director of Roosevelt Road, said: “The recruitment of such high-calibre individuals signals the intention to move Roosevelt Road Re Ltd forward to an exciting next phase of controlled expansion.
“Dan Hickey has already established a formidable MGA business in Tradesman Program Managers, and with Duncan and Joe on board, the foundations are being laid to create a high-quality, specialist reinsurance presence in Bermuda.”
