Howden Tiger creates $1bn facultative reinsurance broker ‘like no other’
Howden Tiger have created a new broking division that will align the facultative, consortia, facilities expertise and specialty reinsurance capabilities from across the newly combined business. The company’s CEO believes it will bring a competitive advantage and be “the difference the market wants” with a unique structure and capabilities.
The combined entity of Howden Tiger Fac will consolidate Howden Tiger’s London market position, placing premiums in excess of $1 billion of facultative reinsurance premiums into the market.
Howden Tiger Fac will be led in London by Gordon Craig, who has been named president of the new division, and will contain specialists from energy, power, construction, casualty, property, consortia and facultative facility specialisms.
Globally, the division will be chaired by Elliot Richardson, and the board will comprise Luigi Boglione, Marenco Scholz, Dougal Kerr, Stuart Beatty, Lewis Kirby, Sam Gardner, Akshay Reddy and Greg Curtis.
The move follows the recent launch of Howden Tiger SabRE, an MGA/programme broking division comprising specialists from Bowood, Howden’s specialist delegated binding authority division and Howden Tiger’s Coverholder teams.
Howden Tiger is now a “full stack” reinsurance broking business of 450 insurance professionals, with complementary strengths, and a “market leader” in treaty, facultative, capital markets, MGA and analytics, the company claims.
Richardson, vice chair and chair of international, Howden Tiger, said: “Alongside our leading Treaty, Analytics and Capital Advisory business, the creation of Howden Tiger Fac is the next stage in our buildout following the launch of Howden Tiger SabRE.
Having aligned our binder and MGA teams under Stephen Greener, Howden Tiger Fac assembles all our Facultative, Consortia and Facilities expertise in one group, enabling us to support our clients and their specific requirements, and giving them the most effective access to all forms of reinsurance capital for Facultative and MGA business. Clients now require tailored solutions and Howden Tiger, due to our unique structure and capabilities, will deliver this like no other.”
Rob Bredahl, CEO of Howden Tiger, added: “The aligned capabilities, talent and expertise of Howden Tiger Fac will make it the standout Facultative reinsurance broker in the market. This combined reinsurance business will be the difference the market wants, bringing a competitive advantage to current and future clients, and acting as a magnet for talent in the reinsurance market.”
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