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The new venture has been assigned financial strength ratings of A- by AM Best.
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Tom Shelley to become the new Faraday boss on 1 May.
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Keith Harrison has resigned from the merged reinsurance business at Guy Carpenter following the paying-out of retention bonuses last week.
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Steve McGill’s start-up is believed to have secured funding commitments of $250mn.
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Godfrey will remain with the business as a consultant and chairman of its UK operations. -
The executive will lead on reinsurance in Bermuda for the soon to launch Catlin venture.
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He will be replaced in the role by partners Jarad Madea and Stephen Fromm.
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Sara Ager will work closely with team leader Clive O’Connell for clients including ILS funds.
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Stephen Mathews was previously at Guy Carpenter, where he led the company’s entry into credit risk transfer reinsurance.
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PartnerRe has hired Axis Re’s Jonathan Colello as CEO of its P&C Americas business and president of its US operation.
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Emmanuel Modu, global head of ILS at AM Best, says Bermuda insurers and ILS managers are increasingly showing interest in rated vehicles.
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People moves in the industry in the past month.
