Banyan Risk Ltd, the specialty Managing General Agent (MGA) which launched in Bermuda in 2021, has announced Peter Horrobin’s role as Co-Founder and Co-Chief Executive Officer.
Horrobin joins Tim Usher-Jones to lead Banyan Risk, a minority stake of which is held by SiriusPoint, who also provides insurance paper and capacity to the MGA.
The Bermuda-regulated MGA creates bespoke Directors’ and Officers’ (D&O) insurance risk solutions for life sciences, global initial public offerings (IPOs), the technology sector, and special purpose acquisition companies (SPACs).
Horrobin has 15 years of underwriting experience in Professional Liability and Management Liability.
He takes his place as Co-Founder and Co-Chief Executive at Banyan following three years at Ascot Bermuda, where he held the role of Senior Vice President. Previously, he served as Managing Director at Chubb Atlantic Indemnity, where he was also a board member.
“I am delighted to be joining Tim to lead Banyan Risk at such an exciting stage in the company’s growth,” said Horrobin. “It is clear that the opportunity we saw to develop a specialized platform is being embraced by clients and the broker community.”
Sid Sankaran, Chief Executive Officer of SiriusPoint, also commented: “We are delighted to be able to announce Peter’s co-leadership of Banyan Risk. SiriusPoint’s mission is to partner with entrepreneurial talent and having two such highly-skilled industry professionals at the helm will give Banyan the breadth and depth of experience to innovate and succeed in the D&O space.”
