Bermuda domiciled Roosevelt Road Re Ltd. has announced the appointment of Darren Bailey, formerly of Randall & Quilter (R&Q), as its new Director of ILS and Capital Markets, effective immediately.
Based in London, Bailey brings 19 years of global reinsurance and insurance-linked securities (ILS) experience to the firm.
In June 2021, he left R&Q as the company’s Head of Business Development for M&A Legacy transactions.
Bailey joined R&Q in 2018 from insurance and reinsurance broker Aon, and previously worked as a Director in the Aon Insurance Management team, leading ILS business development for the EMEA region.
“Roosevelt Road complements my hunger for continued success,” said Bailey. “Their leadership team has a dynamic strategy to business growth, employs an energetic approach to closing deals and demonstrates passion at all levels of the business that deliver year on year outstanding results.”
The company’s Chief Executive Officer (CEO), Dan Hickey, commented: “Appointing Darren to our growing and experienced team underlines our commitment to Roosevelt Road’s growth in 2022 and beyond. Darren was well known to our team, having worked closely with us during the Sandell Re transaction and subsequent restructuring with R&Q.
“Having a dedicated capital markets resource will no doubt enhance our visibility in the market via Darren’s vast network and global presence, and we look forward to strengthening our relationships in the ILS market. Recalling our main goal for Roosevelt Road, we strive to create a high-quality specialist reinsurance presence in Bermuda.”
While Ken Randall, non-executive director of Roosevelt Road, added: “We continue to see high- calibre individuals such as Darren being attracted to Roosevelt Road and clearly highlights the continuation of the controlled expansion since inception in 2020.
“With Duncan King and Joe Bonanno joining the underwriting team in 2021, Dan Hickey is clearly demonstrating the foundations of building another successful entity in addition to the flourishing MGA business in Tradesman Program Managers.”
It was announced last year that Duncan King would step into the Chief Underwriting Officer role in early 2022, while Bonanno was named Head of Reinsurance, Bermuda, as well as Senior Vice President of Underwriting.
