Property Cat Reinsurance MGA, Bobcat Re, Launched in US by Former K2 CAT Execs

A new property-catastrophe reinsurance MGA, Bobcat Re, has been launched by a group of private investors, including former K2 CAT executives David Carson and James Sharpington as well as Glenn T. Jackson from Safepoint.

Headquartered in Tampa and with an office in London, Bobcat Re brings property catastrophe reinsurance underwriting, distribution and portfolio management expertise to capacity providers, via a number of delegated cat facilities. It focuses on the US, Japan, Canada and the Caribbean markets.

“Bobcat Re’s USP is the ability to build totally bespoke portfolios tailored exactly to a carrier’s specific risk appetite,” according to the company on its LinkedIn site.

Bobcat Re said business can be accepted either via a carrier’s balance sheet, by using a fronting company, or via collateralized quota share (also using a fronting company).

“In-house modeling, actuarial, claims, compliance and best-in-class MI resources support the underwriting team,” the company said, noting that back-office services are supplied by Insight Risk Solutions.

“All our facilities are separate with single carriers – lines are not aggregated where more than one facility is involved on the same program,” it continued.

The minimum rating for capacity providers is A- with AM Best or S&P.

Biographies

David Carson, who is director and one of Bobcat Re’s founding investors, has 38 years’ experience in the reinsurance industry, as both a broker and underwriter, specializing mainly in property treaty business. He was previously the managing director of K2 CAT (formerly Pioneer CAT), which he founded in 2013. He has held senior underwriting and management roles in Lloyd’s at Hardy, DP Mann / Faraday, and RA Edwards. Carson started his reinsurance career at Greig Fester in 1987.

Carson has an Associateship of the Chartered Insurance Institute (ACII) qualification and a Chartered Insurer designation from the Chartered Insurance Institute (CII) in the UK. He is a graduate of the University of Exeter.

James Sharpington, who is Bobcat Re’s associate director and one of Bobcat Re’s founding investors, started working at K2 CAT in July 2018. He was promoted to senior underwriter in April 2021. He has a strong track record in the property cat market in both broking and account management, latterly as a senior broker for BMS. He started his career at Benfield in 2007. Sharpington is a graduate of Durham University and has ACII and Chartered Insurer designation.

Glenn T. Jackson, who is Bobcat Re’s manager, has served as Safepoint’s chief reinsurance and strategy officer since October 2018 where he led the placement of Safepoint’s annual reinsurance program. Jackson launched his reinsurance career in 1983 as a treaty and facultative broker, specializing in property, marine, energy, and aviation. Following the unprecedented U.S. hurricane activity in 2004 and 2005, Jackson directed his focus to alternative property catastrophe reinsurance products with leading U.S. reinsurance brokers. He advised capital market participants and insurance/reinsurance entities in the structuring, modeling, and execution of alternative reinsurance transactions, including special purpose vehicles, captives, side cars, and collateralized reinsurance contracts.

Source: Bobcat Re

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