Pioneer Underwriters has unified its financial institutions businesses into a single global underwriting operation, led by Richard Coello.
The team will now be responsible for all financial institutions business written by Pioneer, utilising the same capital base to write business from its offices in London, Brussels and New York.
Coello has served as Head of Financial Institutions at Pioneer since December 2014, before which he was responsible for the financial institutions, management liability, and media & entertainment teams at Travelers.
Pioneer also announced the addition of Rolando Rodriguez to the global financial institutions team, based in New York.
He was previously Vice President for Diversified Financial Services at Pioneer and will be tasked with helping U.S brokers to access Pioneer’s capital base directly in the U.S.
Graeme Rayner, Group Chief Underwriting Officer (CUO) at Pioneer, commented on the announcement: “It is a key Pioneer ambition to build on its position as a leading global asset management insurance specialist and this multi-platform, single strategy approach will help us achieve this aim.”
“With one capital base and a clear, focused risk appetite, the team is ready and geared to offer a market-leading proposition,” he added.
Pioneer Underwriters is the underwriting group within Minova Insurance Holdings and operates as a risk carrier and managing agent with the backing of Liberty Syndicate 4472.
It also operates Pioneer Syndicate 1980 at Lloyd’s and underwrites a broad cross-section of business including Property, Casualty, Marine and Energy across 30 facilities operating through Lloyd’s and Non-Lloyd’s platforms.
