Capsicum Re boosts cyber division

Specialist reinsurance broker Capsicum Re has hired Jasper Goring as a cyber broker and Prab Naidu as wordings director.

Both are based in London reporting into Ian Newman, global head of cyber, and Samantha Thompson, operations director for London property and specialty.

Goring joins from Paragon International Insurance Brokers where he was senior vice president and focused on cyber business in the UK and US. Before this, he was a broker at Willis and Lockton.

Naidu brings more than 16 years’ experience in re/insurance contract wordings. He was most recently wordings manager at BMS Group and held roles at Guy Carpenter, UIB and Heath Lambert before this.

Matt FitzGerald, managing partner of the London property and specialty division at Capsicum Re, said: “The cyber sector is progressing at an unparalleled pace; we anticipate it will be as big a sector of the market as property and casualty so it is a key focus area for the business. I am pleased to welcome another two excellent hires to our growing team, reinforcing our position as the largest dedicated cyber reinsurance broking practice in the UK and North America.”

Ian Newman, global head of cyber, added: “Creating innovative and modern wordings is key in ensuring Capsicum Re remains at the forefront of product development so Prab’s expertise is a real asset. He is a highly regarded wordings specialist and working alongside our partner, Hogan Lovells, he will construct market leading wordings that ensure our clients are equipped to deal with the cyber risks they face.”