Paraline hires GC Securities' managing director

Bermuda-domiciled insurance and reinsurance holding company Paraline has appointed Paul Rayner as active underwriter of Paraline Syndicate 4242 and SPA 6123.

Rayner will also become a member of the group’s board.

Rayner has over 18 years of experience in global insurance markets. He joins from GC Securities where, as a managing director, he developed and led a series of initiatives in the Lloyd’s and company markets including M&A, startups and capital raises. He has experience in Lloyd’s capacity, reinsurance and securities offerings and has worked with several syndicates across business planning, performance appraisal and their wider operations, alongside developing growth strategies.

Prior to joining GC Securities, Rayner served as a director at Aon Benfield Securities.

Bruce Schnitzer, chairman of Paraline said: “We have built a high-quality portfolio of insurance assets and Paul’s experience and expertise will add greatly to our prospects for future success.

“We have known Paul and respected his capabilities for a long time. He was instrumental in the formation of Syndicate 4242 and has continued to remain close to the business. He also has longstanding relationships with many of its underwriting capacity providers and with ICAT, the syndicate’s primary distribution partner. And, Paul advised in the transaction through which we acquired ICAT and again at the time of our strategic investment in Asta."

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