Conduit Re has appointed Peter Kiernan as its new head of property.
The firm said that Kiernan, currently Head of US Property with AXA XL Reinsurance in Bermuda, will take up his role at the beginning of December, subject to regulatory and work permit approvals.
The firm added that Kiernan’s appointment at Conduit Re marks the next stage in its plans for growth and business development in the property treaty arena.
Kiernan began his career in PXRE Reinsurance in 2002, before moving to Axis Specialty Limited in 2006 where, as Executive Vice President, he managed a team of underwriters, cat modelers and underwriting assistants in support of a portfolio of worldwide exposed property treaty reinsurance including catastrophe, per risk, and pro rata contracts.
In 2012, he was appointed President and CUO of Axis Re Bermuda, heading up its North American Property Unit. He joined Allianz Risk Transfer, Bermuda in March 2020 as Head of North American Reinsurance before joining AXA XL Reinsurance.
Trevor Carvey, CEO of Conduit Re, said: “Pete’s significant knowledge and experience in the property reinsurance market will be a tremendous asset as we look to build on the great business we have put in place. With his market presence and extensive contacts, he will help accelerate our plans in not just the property space but will also be able to work alongside our specialty and casualty teams to further develop the footprint across our client and broker base. Pete’s technical knowledge, his energy, and his leadership strengths make him an ideal choice to lead the property division to the next chapter in our story.”
Kiernan was last on these pages in July when he was appointed by AXA XL Reinsurance to his current role. Back then, Kiernan was replacing Simon Penney, who was relocating to London to take up a new global role as Head of Underwriting Analytics, where he would be responsible for the US property strategy and execution of business underwritten through AXA XL’s Reinsurance Bermuda operation.
Regarding Kiernan’s new appointment, Greg Roberts, CUO of Conduit Re, said: “I am thrilled to have Peter join Conduit Re and apply his extensive experience and leadership to accelerating the growth and development of the Property book, while also augmenting the strength and depth of our wider underwriting team. Current market conditions provide the optimal opportunity to continue the planned build of our pure play reinsurance business, with clear margin acceleration in a property market in disequilibrium.”
