Howden Tiger has announced the creation of a new broking division, Howden Tiger Fac, which merges Facultative, Consortia, Facilities expertise and Specialty Reinsurance capabilities from across the newly combined business.
Gordon Craig, who has been named President of Howden Tiger Fac, will lead the new division in London.
Howden Tiger states that the combined entity will consolidate its leading London market position, placing premiums in excess of $1 billion of facultative reinsurance premiums into the market.
The new division will also contain specialists from Energy, Power, Construction, Casualty, Property, Consortia and Facultative Facility specialisms.
Globally, the division will be chaired by Elliot Richardson, and the board will comprise Luigi Boglione, Marenco Scholz, Dougal Kerr, Stuart Beatty, Lewis Kirby, Sam Gardner, Akshay Reddy and Greg Curtis.
At the beginning of the year, Reinsurance News covered Howden Group’s completion of its acquisition of TigerRisk Partners (now Howden Tiger), with the firm stating, “Together, we are the world’s fourth largest global reinsurance broker.”
At that time, the firm also announced the launch of Howden Tiger SabRE, an MGA/Programme broking division comprising specialists from Bowood, Howden’s specialist delegated binding authority division and Howden Tiger’s Coverholder teams.
Howden Tiger suggests that Howden Tiger Fac builds on this integrated approach, reflecting its commitment to delivering more choices for clients.
Elliot Richardson, Vice Chair and Chair of International, Howden Tiger, commented, “Alongside our leading Treaty, Analytics and Capital Advisory business, the creation of Howden Tiger Fac is the next stage in our buildout following the launch of Howden Tiger SabRE.
“Having aligned our Binder and MGA teams under Stephen Greener, Howden Tiger Fac assembles all our Facultative, Consortia and Facilities expertise in one group, enabling us to support our clients and their specific requirements, and giving them the most effective access to all forms of reinsurance capital for Facultative and MGA business.
“Clients now require tailored solutions and Howden Tiger, due to our unique structure and capabilities, will deliver this like no other.”
Rob Bredahl, CEO of Howden Tiger, added, “The aligned capabilities, talent and expertise of Howden Tiger Fac will make it the standout Facultative reinsurance broker in the market.
“This combined reinsurance business will be the difference the market wants, bringing a competitive advantage to current and future clients, and acting as a magnet for talent in the reinsurance market.”