Specialist reinsurance broker Capsicum Re has announced the appointment of Jasper Goring as a Cyber Broker and Prab Naidu as Wordings Director within its cyber division.
Goring joins Capsicum Re from Paragon International Insurance Brokers, where he most recently served as Senior Vice President and focused on cyber business in the UK and U.S, before which he was a broker at Willis and Lockton.
Naidu brings more than 16 years’ experience in reinsurance contract wordings to his new position, having previously served as Wordings Manager at BMS Group, before which he held roles at Guy Carpenter, UIB, and Heath Lambert.
Both Goring and Naidu are based in London and will report to Ian Newman, Global Head of Cyber at Capsicum Re, and Samantha Thompson, Operations Director for London Property and Specialty.
Matt FitzGerald, Managing Partner of the London Property and Specialty division at Capsicum Re, said: “The cyber sector is progressing at an unparalleled pace; we anticipate it will be as big a sector of the market as property and casualty so it is a key focus area for the business.
“I am pleased to welcome another two excellent hires to our growing team, reinforcing our position as the largest dedicated cyber reinsurance broking practice in the UK and North America.”
Newman also commented: “Jasper is one of the leading cyber brokers in the London market. His expertise and in-depth understanding of cyber in multiple markets complements and strengthens our knowledge, ensuring we remain effective in placing cyber reinsurance from both our London and New York offices.”
“Creating innovative and modern wordings is key in ensuring Capsicum Re remains at the forefront of product development so Prab’s expertise is a real asset,” Newman continued. “He is a highly regarded wordings specialist and working alongside our partner, Hogan Lovells, he will construct market leading wordings that ensure our clients are equipped to deal with the cyber risks they face.”