Global reinsurance broker Gallagher Re has announced the appointment of Alex McManus and Romain Kapfer to lead its index-based capabilities and specialty business in Bermuda, respectively.
Effective immediately, McManus will lead index-based initiatives on the island working closely with Gallagher Securities, the insurance-linked securities (ILS) arm of Gallagher Re.
His appointment, Gallagher Re noted, will enable industry loss warranty (ILW) and catastrophe bond capabilities to be readily available to the Bermudian business.
McManus has extensive knowledge of the indexed space and has been instrumental in growing Gallagher Re’s ILW offering. He has worked in the Direct, Reinsurance and Retro markets since joining as part of the Gallagher Graduate Scheme in 2012.
Capitalising on his strong connectivity to both London and North American colleagues, as well as Artex Capital Solutions within the wider Gallagher group, he will ensure clients gain access to the full suite of alternative capital solutions – a growing requirement in a more challenging reinsurance market, the broker highlighted.
Also starting immediately, Kapfer has been appointed to lead Gallagher Re’s growing specialty business in Bermuda. A move that according to the broker, reflects the strategy to build out a team that complements the direction of travel and growing diversification within the Bermudian reinsurance market.
He has over 15 years of experience across the London market and North American specialty treaty business, having worked in both London and New York, Romain most recently led on sales and strategy for the UK’s marine and energy division as Executive Director
He joined Gallagher Re as part of the Willis Re acquisition in 2021 – he started at Willis Re in 2013 as Executive Director. Throughout his career, he has led large international property & casualty programmes, and previously specialised in alternative risk transfer solutions.
Commenting on the appointments, Ben Radford, Head of Bermuda, Gallagher Re, said: “The Bermudian reinsurance market is intricate, exciting and one in which we see huge value and potential for growth.
“Having the expertise and experience of Romain and Alex in Bermuda speaks directly to our strategy of relevance – ensuring we have the right people on the island, with the right capabilities, for the right reasons. Individuals who can speak to multiple product disciplines and provide our clients with a product agnostic view of how best to access capital in a more capacity constrained marketplace is key to our approach.
“Clients and carriers alike in Bermuda tell us they want a more global, multi-class offering from brokers, one that not only has a deep understanding of specialisms but can connect business globally. Our ongoing investment is designed to deliver just that.”
