Ariel Re lures AXIS Re CUO to capitalise on hardening property market
Bermuda-based multi-line reinsurer Ariel Re has hired the chief underwriting officer of AXIS Re for a newly created position as it seeks to attract fresh capital and take advantage of the hardening property market.
Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has appointed Katie Partington Howarth (pictured) to the role of chief capital officer (CCO).
Based in Bermuda, Partington Howarth will report to chief executive officer Ryan Mather and will be responsible for Ariel Re’s capital strategy including sourcing external capital and managing investor relations.
She joins on June 1 and will work with chief financial officer Mike Pedraja to help attract significant new underwriting capital for 2023, including $270m of investment previously announced in March.
Partington Howarth returns to Ariel Re having been originally one of the company’s earliest hires in 2005. She had progressed to the position of head of underwriting Risk when the business was acquired by Argo Group in 2017. Most recently, Partington Howarth served as chief underwriting officer at AXIS Re.
Mather said: “We are excited to have Katie rejoin Ariel Re and facilitate our growth as we seek to take advantage of the hardening property market. Katie brings extensive knowledge of the insurance and reinsurance industries having served in a variety of senior leadership roles. We look forward to her contributions in raising and managing our future capital.”
Partington Howarth commented: “I am delighted to be returning to Ariel Re in this exciting period of growth for the company as we seek to work with our capital partners and take advantage of the best opportunities in the market. Ariel Re has a well-earned reputation as a premier manager of reinsurance risk, and I look forward to working with Ryan and Mike on continuing their success.”
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