5 October 2015 News

Berkley Re UK launches global facultative property unit

Berkley Re UK has established a new global facultative property capability based in London and hired a former XL Re executive to run it.

The company has hired Alex Galea, previously senior vice president and manager for the property facultative international segment at XL Re, as head of property facultative.

The company said the new unit will provide targeted and bespoke coverage to global clients that will enable them to better manage their risks, whether in growth areas or emerging markets.

Henry Williams has been appointed as senior underwriter property facultative of the new unit and has nearly ten years of insurance and reinsurance experience.

The new global facultative property unit will service insurers and brokers worldwide. The unit will offer feedback on risk management procedures, business continuity plans and probable maximum losses.

Richard Fothergill, chief executive officer, said: “Our addition of a global facultative property unit will provide positive synergies to our treaty portfolios. Both Alex and Henry have a deep understanding of the exposures being written, giving us the ability to provide coverage for big spikes associated with a single peril or geography.

“Our client-focused and risk-specific approach will enable us to deliver capacity and expertise on a bespoke basis and provide insurers with a valuable addition to their risk management toolkits.”

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