PartnerRe, Banyan Threat accomplice for extra casualty-focused subsidiary

World reinsurer PartnerRe has entered right into a strategic partnership with Banyan Threat, a specialty managing normal agent, to jot down extra casualty insurance coverage, topic to approval by the Bermuda Financial Authority.

Underneath the collaboration, PartnerRe will present capability and shareholder assist for the launch of a brand new subsidiary referred to as Banyan Extra Legal responsibility Ltd. (BELL). It is going to be based mostly in Bermuda and sit beneath the Banyan Threat Ltd operation with a sole concentrate on extra casualty insurance coverage.

BELL will likely be led by Alan Rodrigues, who was appointed CEO. He will likely be chargeable for offering consumer options to the surplus casualty market, which at the moment faces a difficult atmosphere.

Rodrigues will construct out an area group in Bermuda, reporting to the BELL board of administrators.

Rodrigues brings to the function almost 40 years’ expertise in extra casualty, with oversight of billions in gross written premium.

Previous to becoming a member of BELL, he served as government underwriting officer for casualty, main Markel Specialty’s broad casualty enterprise, together with the Bermuda market.

Beforehand, he spent 13 years at AXIS Capital in London, Bermuda, and america. He additionally has a 16-year expertise with Basic Star Administration, a normal reinsurance firm.

Rodrigues started his profession at Safeco Insurance coverage in 1985 as a casualty underwriter.

His new accountability, BELL, marks an enlargement into a brand new Banyan product line, following the 2021 launch of Banyan Threat Providers Ltd. In Canada.

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