Inver Re, Ardonagh Specialty’s reinsurance broking business, has appointed Steven Rance to the newly created position of Head of Specialty in London. He will report to Jonathan Prinn, Chief Executive Officer of Inver Re London.
Rance’s remit in his new role will include being responsible for Credit, Marine, Cyber, Parametrics, Motor, and Group Solutions.
Most recently, Rance served at Gallagher Re as the Managing Partner and Head of Global Mortgage. Before that, he spent a decade as Head of Global Mortgage at JLT.
He has an extensive career spanning 35 years and has held the roles of European managing director (MD) for US mortgage insurer, Radian and MD for Structured Transactions at mortgage insurance specialist Genworth.
Prinn commented on the appointment, “It is fantastic that Inver Re has attracted someone of Steven’s calibre to create its Specialty Division and lead the growth of our credit proposition.
“In the past, Steven has headed up the UK’s first government-backed mortgage insurance programme and led the development of mortgage insurance schemes for housebuilders. The skill he brings to Inver Re will hugely support our growth journey as we cement ourselves as a reinsurance broker that truly offers something different to the market.”
Rance commented: “This is an exciting time to join Inver Re and I have an opportunity to build on the early success of the organisation and develop a Specialty team which will harnesses the skills of some hugely talented people. I was attracted to the Inver Re business as its relationship to Ardonagh means it can leverage the scale of that business while also focusing on bespoke and specialist work for its reinsurance clients.
“In addition to setting up the Specialty division, I am also looking forward to realising the opportunities for Inver Re in the credit space which will help support home ownership, house building and, in turn, the wider growth of our credit business.”
