19 May 2021Life

Price Forbes strengthens its retro and ILW capabilities with hire

Price Forbes has hired Nicolas Bardon as executive vice president in Bermuda.

Bardon is an experienced retro broker and industry loss warranty (ILW) specialist. He joins from Bermuda Brokers where he was a producing broker across several product lines. He has also worked at JLT Re and Guy Carpenter in the retrocessional property team.

In his new role Bardon works with Nick Foden-Pattinson, president of Price Forbes Bermuda, to strengthen its presence in Bermuda and expand its ability to deliver bespoke products to clients.

Bardon said: “The ILW market has been very active since the beginning of the pandemic over a year ago. Last year’s price increase attracted the traditional markets as well as the start-ups to write ILWs and we anticipate that buyers’ appetite for these products will remain strong at renewal. The reinsurance market, especially in Florida, and the retro market have an impact on ILW prices and the actual outcome suggests some price stabilisation and growing trading activity especially in light of the potential increase of natural catastrophe frequency.”

Foden-Pattinson added: “Price Forbes Bermuda and the Ardonagh Group is committed to delivering independent placement and advice to clients across the world and Nic’s appointment will help us to deliver on our commitment.”