Ardonagh Specialty has appointed Patrick Rastiello as CEO of its North American reinsurance operations.
Rastiello was most recently CEO and President of Accredited, where he reportedly grew the business to over $1.1 billion premium run rate, leading on underwriting and growth decisions.
Before Accredited, he spent almost two and a half decades at Aon Reinsurance, where he launched the company’s MGA practice group.
In the new role at Ardonagh Specialty, Rastiello is tasked with building the firm’s US reinsurance business, “making strategic hires and leading business development with key accounts”.
He will report to Ardonagh Specialty CEO Andrew Wallin, working with Nick Foden-Pattinson, President of its North American reinsurance business.
The firm explained that the North American team will work closely with Inver Re teams in Bermuda and London to deliver multi-jurisdictional solutions for clients.
Commenting on his new role, Rastiello said, “The specialty marketplace in the US is growing rapidly and fundamental changes to the way MGA and specialty business is handled are needed.
“Ardonagh’s, strength, expertise and reputation for embracing change made it the only organisation I would consider joining.
“I look forward to working with my new colleagues across Price Forbes and Inver Re to usher in a new era of superior guidance for new entrants, traditional underwriters and hybrid carriers alike.”
Andrew Wallin, Ardonagh Specialty CEO, added, “The US is the largest and most vibrant reinsurance market in the world. Pat is a pioneer of reinsurance broking and underwriting, and we’re proud to have him leading the charge.”
