Watson’s Inigo appoints new COO

Inigo, the Lloyd’s re/insurer founded by Richard Watson, has appointed former Everest underwriter veteran Alice Kaye as its chief operating officer. She takes over from Karen Graves, who oversaw the insurer’s first year.

Watson has been with Indigo since May 2021 and was chief of staff. She brings over a decade’s experience. She was previously a casualty treater underwriter with Bermuda-based reinsurer Everest Re and, before that, a senior underwriter with Partner Re, most recently working on the London market and broker relations.

Inigo was launched by former Hiscox chief underwriting officer Watson in 2020 and completed a  capital raise of $800 million late that year. It started underwriting in 2021. Other founders include Russell Merrett, the former managing director of Hiscox London Market, and Stuart Bridges, the former chief financial officer of both Hiscox and ICAP Howard Davie, the chairman of NatWest Group and former chairman of both the Financial Services Authority and the Phoenix Group, is chairman.

Watson has said that the business plans to open a Bermuda platform in future.