Brit Global Specialty has announced the appointments of Richard Slater as Underwriting Director and Adam Champion as Senior Vice President, Portfolio Manager and Operations of its Bermuda-based collateralised reinsurance platform, Sussex Capital.
Slater joins from XL Catlin where he served as Head of International Property Reinsurance and Global Property Retro. Prior to this, he had held senior Property Treaty Reinsurance roles at Montpelier Re and ACE Tempest Re.
Slater is expected to manage Property Treaty underwriting and will underwrite for Brit Syndicate 2987 and 2988 to broaden the Brit client offering and “identify opportunities” for Sussex Capital to grow.
Champion brings extensive modelling and analytical experience, joining from MS Amlin where he was Head of Analytics. He was previously Head of Catastrophe Modelling for Amlin Bermuda, supporting underwriters in the global property business.
Working closely with the underwriting and exposure management teams in Bermuda, London and the U.S., Champion will also support the development of Brit’s wider Property Treaty and catastrophe modelling capability.
“We have a clear ambition to develop Sussex Capital into a leading ILS manager, with both top quartile performance and relevant scale,” Matthew Wilson, Chief Executive Officer, Brit, commented.
“The appointments of Richard and Adam are another step towards this objective, as both are highly regarded in the market and have the relationships and technical expertise to support our growth strategy for Sussex Capital.”
Mark Allan, Brit’s Chief Financial Officer, added, “Sussex Capital leverages Brit’s track record, technical underwriting capabilities and access to high quality business to enable investors to participate in the ILS space via an innovative product offering.
“More broadly, Sussex Capital forms part of Brit’s strategy to build long term relationships with the capital markets, and these appointments further strengthen Brit’s reinsurance capability and access to diversified sources of capital to support property catastrophe and other insurance risk.”