Beat Capital Partners (Beat), a long duration investor specialising in insurance startups, has announced the launch of RedRiff Agency Limited (RedRiff), a specialist Accident & Health (A&H) underwriter. In addition, it has appointed Peter Wilkins to be its CEO beginning in December.
RedRiff will provide cover for a broad range of A&H insurance and reinsurance and will underwrite through a Lloyd’s consortium, led by Beat Syndicate 4242. Underwriting under RedRiff is set to begin in Q1 of 2024.
“I am delighted to be working with Beat to establish a new business. At a time when we are seeing strong conditions in the A&H market, the challenge of establishing a new competitor is an exciting prospect and, with the backing of Beat, I’m confident that we won’t be considered a new entrant for very long,” said Wilkins.
“There are very few carriers who can lay claim to a market-leading underwriter with the experience of someone like Peter,” said John Cavanagh, chairman of Beat. “His expertise and reputation exemplify Beat’s approach to business, talent, and providing the best solutions for our clients; we are thrilled to partner with him and excited for the prospects of RedRiff.”
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