Randall & Quilter Investment Holdings has appointed Andrew Pinkes as Global CEO of its Legacy Insurance business.
The appointment follows the recent announcement of Gibson Re, a Bermuda-domiciled sidecar with $300 million of capital which will allow R&Q to support $2 billion of legacy insurance reserves.
Pinkes will report into William Spiegel, Executive Chairman, and will have the Legacy Insurance M&A and Operations teams reporting to him.
He brings over 30 years of experience within the insurance industry, which includes extensive experience managing legacy and run-off portfolios.
Pinkes has served as Executive Vice President, Worldwide P&C Claims and Property & Casualty Runoff for CNA, Global Head of Claims for XL Group, Head of Claims and P&C run-off for the Hartford and also held senior executive legal and claims roles at Travelers.
He is a Board director and advisor for a number of insurance, insurance related and technology businesses, and has been a Senior Advisor to the insurance practice of McKinsey & Company and a member of the Board of Advisors for the RAND Institute for Civil Justice.
Spiegel commented: “I’m delighted to announce Andy’s appointment as our new Global CEO of Legacy Insurance. In addition to proven expertise in managing legacy insurance books, Andy also brings strong experience using data and analytics to improve the management of claims, which is an important pillar of our strategy for R&Q.
“We recently announced the milestone launch of Gibson Re, which will support our ambitions to build further scale in Legacy Insurance while transitioning it into a recurring fee-based business. I look forward to having Andy as our partner at R&Q and working closely with him.”
Pinkes added: “I’ve long admired R&Q and its position as a leader in the legacy insurance space. With the recent launch of Gibson Re, its offering is more relevant than ever.
“There exist significant opportunities in the market, I am excited by R&Q’s ambitions to capitalize on these and look forward to working with William and the R&Q team to help deliver on them for both R&Q and its investors.”