Ardonagh attracts ex-Aon reinsurance broking pioneer to build US business

Ardonagh Specialty has tapped a former Accredited CEO and 24-year Aon Re veteran to build out its US reinsurance business.

Patrick Rastiello (pictured) has been appointed as CEO of North American reinsurance operations, Ardonagh Specialty.

 Rastiello will be responsible for building Ardonagh Specialty’s US reinsurance business, making strategic hires and leading business development with key accounts.

 He will report to Ardonagh Specialty CEO Andrew Wallin, working closely with Nick Foden-Pattinson, president of its North American reinsurance business.

 The North American team will work closely with Inver Re teams in Bermuda and London to deliver multi-jurisdictional solutions for clients.

 Rastiello was previously CEO and president of Accredited, where he grew the business to over $1.1 billion premium run rate, leading on underwriting and growth decisions.

 Prior to Accredited, Rastiello spent 24 years at Aon Reinsurance, where he launched the MGA practice group that went on to be one of the largest MGA brokers in the US.

 Rastiello commented: “The specialty marketplace in the US is growing rapidly and fundamental changes to the way MGA and specialty business is handled are needed. Ardonagh’s, strength, expertise and reputation for embracing change made it the only organisation I would consider joining.

 “I look forward to working with my new colleagues across Price Forbes and Inver Re to usher in a new era of superior guidance for new entrants, traditional underwriters and hybrid carriers alike.”

 Wallin said: “The US is the largest and most vibrant reinsurance market in the world. Pat is a pioneer of reinsurance broking and underwriting, and we’re proud to have him leading the charge.”

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