Bermuda-headquartered reinsurer Roosevelt Road Re has named Duncan King and Joe Bonanno to lead its underwriting division.
King steps into the Chief Underwriting Officer role in early 2022, having recently departed from Argenta Group as its senior underwriter for casualty and specialty treaty.
Based in London, King brings 37 years’ experience working across the Lloyd’s market.
Bonanno will operate as head of reinsurance, Bermuda, as well as senior vice-president of underwriting.
He reports to Roosevelt Road’s CEO Dan Hickey until King joins from Argenta.
The company believes Bonanno’s time spent fostering relationships and garnering experience across Bermuda and the US will contribute significant value.
Additionally, his relationship with King is seen as a compounding factor that will increase the quality of service provided to brokers and clients.
Bonanno was most recently Brit Reinsurance’s CUO, having previously led the firm’s Bermuda office between 2013 and 2021.
“It’s a great time to develop and expand an existing reinsurance company from its current, specific role into a wider, risk-bearing entity on the global stage,” said Bonanno.
“With easy access to the US and the UK, a great talent pool and the knowledge of the BMA, Bermuda provides the perfect backdrop.”
Hickey added that he was “thrilled to have reached another meaningful stage in the execution of the Roosevelt Road Re plans by welcoming on board two key executives with immense talent and experience as we diversify and move forward in creating a bespoke reinsurer in Bermuda”.
Ken Randall, non-executive director of Roosevelt Road, noted, “I am delighted to add my welcome to Duncan and Joe.
“The recruitment of such high-calibre individuals signals the intention to move Roosevelt Road Re Ltd forward to an exciting next phase of controlled expansion.
“Dan Hickey has already established a formidable MGA business in Tradesman Program Managers, and with Duncan and Joe on board the foundations are being laid to create a high-quality, specialist reinsurance presence in Bermuda.”
