Ardonagh merges global facultative reinsurance in Inver Re amid ‘dislocation’ in market
Ardonagh Specialty, the holding company for leading independent brokers Besso Insurance, Bishopsgate, Compass London Markets, Ed Broking, Inver Re, Piiq Risk Partners and Price Forbes, has merged its global facultative reinsurance capabilities under Inver Re as it navigates the current “dislocation” in the market.
The facultative team from Besso Re has moved to Inver Re and will be led by Nikki Melbourne in the role of head of facultative, Inver Re. Melbourne was previously head of facultative at Besso Re, where she was part of a team that launched and grew a multi-geography multi-product line capability business.
Melbourne joined Besso Re from JLT Fac and has held senior underwriting roles at Allianz, Mapfre and RSA. Over the coming months Melbourne will oversee both the Besso and Inver teams to ensure seamless client service.
The Inver Re facultative team now has global capability property, casualty, power, renewables, specie and terrorism and is eight-people strong.
Inver Re London CEO Jonathan Prinn said: “As recent market trends have demonstrated, facultative purchases are now perhaps even more important to clients as they seek to find balance sheet protection that they would have historically passed to their treaty reinsurers.
“Bringing the different facultative teams together from across the Ardonagh Group into Inver Re creates critical mass and a centre of excellence with broad capabilities that our clients directly benefit from. I’m delighted that it will be led by Nikki, who has a formidable track record in growing successful units.”
Melbourne added: “The Ardonagh Group is home to some of the best entrepreneurs in the market that thrive on new opportunity and ways of doing things. I’m pleased to be joining a leadership team that not only encourages fresh ideas, enthusiasm and drive – but expects it.
“A combination of the platform that Inver Re offers, and the current dislocation in the market make this an opportune and exciting moment to be scaling up a Fac solution that is meaningful for our clients.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
