Howden Tiger launches new broking division | Insurance Business UK
The insurance market today welcomes the creation of a new broking division, as Howden Tiger announces the merger of its Facultative, Consortia and Facilities teams and its Specialty Reinsurance capabilities from across the newly combined business to create Howden Tiger Fac.
In a Press release, the group revealed that the combined entity of Howden Tiger Fac will ‘consolidate Howden Tiger’s leading London market position’, placing premiums in excess of $1 billion of Facultative reinsurance premiums into the market. The division, which will be led in London by its newly named president Gordon Craig will contain specialists from Energy, Power, Construction, Casualty, Property, Consortia and Facultative Facility specialisms.
Globally, the combined entity will be chaired by Elliot Richardson, with a board made up of Luigi Boglione, Marenco Scholz, Dougal Kerr, Stuart Beatty, Lewis Kirby, Sam Gardner, Akshay Reddy and Greg Curtis.
The group noted that the news builds on the integrated approach taken during the recent launch of Howden Tiger SabRE, and reflects Howden Tiger’s commitment to delivering more choice for clients.
Commenting on the alignment, Elliot Richardson, vice chair and chair of International, Howden Tiger, said that alongside its Treaty, Analytics and Capital Advisory business, the creation of Howden Tiger Fac is the next stage in the business’s buildout following the launch of Howden Tiger SabRE.
“Having aligned our Binder and MGA teams under Stephen Greener,” he said, “Howden Tiger Fac assembles all our Facultative, Consortia and Facilities expertise in one group, enabling us to support our clients and their specific requirements, and giving them the most effective access to all forms of reinsurance capital for Facultative and MGA business. Clients now require tailored solutions and Howden Tiger, due to our unique structure and capabilities, will deliver this like no other.”
Rob Bredahl, CEO of Howden Tiger, also commented on the change and highlighted that the aligned capabilities, talent and expertise of Howden Tiger Fac will serve to make it the “standout Facultative reinsurance broker in the market”.
He added: “This combined reinsurance business will be the difference the market wants, bringing a competitive advantage to current and future clients, and acting as a magnet for talent in the reinsurance market.”
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