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Bermuda:Re+ILS Spring 2016

39 Spring 2016 Bermuda:Re/insurance+ILS Ariel Re The main lines underwritten by Ariel Re’s specialty unit are: • Marine & energy • Aerospace • Political violence • Composite • Structured property and per risk Approximate GPW in this sector is $70 million. Key executives Charlie Rumball, head of specialty reinsurance; Emily Leitch, specialty underwriter; Raveem Ismail, specialty underwriter; Daniel Vestergren, specialty underwriter. Brit Global Specialty The Brit Global Specialty unit is willing to consider financial lines and is considering looking to grow in the medical malpractice space. Approximate GPW in this sector is $5 million. While Brit is one of the largest Lloyd’s syndicates, it is mid-sized in the context of Bermuda’s large and merged reinsurers. Because of this its aim is to differentiate by providing exceptional service from underwriting to paying claims. Says the firm: “We remain focused on understanding our clients’ evolving risk transfer needs and offer specialised solutions. In working with us our clients enjoy the strength of Lloyd’s paper, and the knowledge that Brit, as part of Fairfax, belongs to a leading global financial services group. Key executives Joe Bonanno; Julia Henderson. Endurance Re Bermuda Senior underwriters Kris Lynn and Avery Cook specialise in worldwide agriculture reinsurance with key clients and broker contacts in Europe, Asia, South America and North America. Says the firm: “Through the use of cutting edge quantitative modelling techniques and their broad base of knowledge and experience, they are able to offer innovative products and covers to address current challenges, including climate variability, volatile crop pricing and an expanding list of livestock diseases.” Senior underwriter Pete Senak’s main focus is structured and financial reinsurance, also a worldwide business, although most opportunities are within the US. The portfolio includes financial exposures such as mortgage insurance and title insurance, as well as loss portfolio transfers and other structured reinsurance treaties. The Bermuda specialty team has also underwritten and continues to entertain an extensive range of reinsurance business including marine/energy, aviation and aerospace, weather, and other specialty classes. Key executives Kris Lynn, senior underwriter; Avery Cook, senior underwriter; Pete Senak, senior underwriter. Endurance has offered workers’ compensation catastrophe reinsurance products since 2002 and underwrites US-based single state, regional and nationwide accounts. With focus on product expertise, detailed analysis, specialised industry knowledge along with strong claims management, this team provides clients with customised risk management solutions to address the challenges that they are facing today and into the future. Says the firm: “The Bermuda workers’ compensation catastrophe team prides itself on providing lead pricing, terms and conditions supported by significant capacity.” Key executives David Bigley, EVP, CUO & head of global catastrophe reinsurance; Lindsay Franklin, senior underwriter. Everest Re Everest Reinsurance (Bermuda) is a wholly owned subsidiary of Everest Re Group. As of December 31, 2015, the group had consolidated GWP of $5.9 billion and shareholders’ equity of $7.6 billion. It is rated ‘A+’ by AM Best and S&P. Everest Re Bermuda writes approximately $850 million, $500 million of which is written through the Bermuda platform. Property and specialty accounts for 65 percent of Bermuda income. The financial strength, expertise and multi-distribution channels of the group provide the resources and support that enables the Bermuda platform to be innovative and creative in providing custom solutions to its clients. As a market leader with specialised expertise in multiple classes of business, “the Bermuda operation can provide cross-class/cross-territory coverages that are important to our multinational and Lloyd’s clients”, says Sanjoy Mukherjee, CEO of Everest Re Bermuda. Everest Re endeavours to build long-term relationships with clients by providing solution-based services, “not simply selling a product”. “In this way, we truly become their business partner. While we are part of a large multinational corporation with wide geographic diversity across multiple segments, our flat management structure allows us the flexibility to quickly adapt to changing market conditions and deploy our capital efficiently in maximizing our return on equity.” SPECIALTY TEAMS


Bermuda:Re+ILS Spring 2016
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