Neon has appointed Nick Pritchard as head of Property Reinsurance. Pritchard initially will be based in Neon’s Bermuda office and will oversee the growth of Neon’s property reinsurance operations across both its Bermuda and London offices.
The appointment will be effective immediately and Pritchard will report to Chris Fisher, chief executive officer of Neon Bermuda, and Darren Lednor, Neon’s chief underwriting officer in London.
Pritchard joins Neon from Bermuda-based AlphaCat, where he focused on business origination and underwriting for the managed funds unit. Prior to this, he was a member of the U.S. property underwriting team at Validus and has been based in Bermuda since 2009, when he relocated from Lloyd’s insurer Talbot following its acquisition by Validus.
Neon’s Bermuda office opened in 2016 and has initially focused on writing direct and facultative property insurance on a global basis as an approved Lloyd’s coverholder for Neon Syndicate 2468.
Pritchard’s appointment “builds on Neon’s property reinsurance capabilities, which were initially established by Darren Lednor in London during 2016, and extends Neon Bermuda’s product offering,” said Neon in a statement.
“Since launching last year, we’ve been encouraged by the progress Neon has made in Bermuda,” said Fisher, who noted that Pritchard’s hire will “significantly strengthen” the company’s Bermuda-based team following the additional key hire of Dwayne Hunt in the property direct & facultative business line in October 2016.
“Nick is well known in the reinsurance market in both the U.S. and London and, having spent over seven years in Bermuda, has a well-established local reputation and track record,” added Fisher.
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