Ironshore Taps Berkley Re Property Treaty Execs for Pembroke’s Patria Re Portfolio

Ironshore International’s Pembroke Managing Agency Ltd. has appointed two treaty property leaders to join the Patria Re underwriting team.

Nicolas Benardout has been appointed divisional director while Jack Bunting is assistant underwriter for Patria Re’s international property treaty business lines.

Pembroke serves as the third-party managing agent for Patria Re, a Lloyd’s approved Special Purpose Arrangement (SPA), underwriting a global insurance and reinsurance portfolio.

Benardout’s professional reinsurance career spans more than 25 years, underwriting property treaty lines across the globe. Most recently, he was head of property treaty and was part of the original team that established Berkley Re UK in 2011, serving clients across Europe, the Caribbean and Middle East North Africa (MENA) region. Benardout also led property treaty underwriting activities for the global portfolios of Chaucer Syndicate, Hartford Re, and Mercantile and General Re.

Bunting joins Patria Re from Berkley Re where he was an assistant underwriter for Benardout’s property treaty team for more than four years.

Patria Re underwrites a portfolio of property casualty programs for Latin American cedents. Patria Re established a special purpose arrangement — SPA PAT6125 — in 2016 as the first Mexican reinsurer at Lloyd’s.

Source: Ironshore International

Topics Underwriting Property