Ardonagh Specialty announced it is naming its reinsurance business Price Forbes Re. The renaming of Inver Re in London and Bermuda and Equinox Re in the US follows the simplification of Ardonagh Specialty’s multiple brands in 2023, with Price Forbes becoming the main brand for its wholesale business, the company explained.
Inver Re launched in June 2021 and brought together multiple teams following the acquisition of BGC’s insurance business in November 2021. It has grown across Bermuda, the US and London, welcoming specialists and launching several specialist teams to become the largest independent broker in Bermuda, according to Ardongh Specialty in a statement.
Chris Bonard has been named president of Price Forbes Re. He will report to Ardonagh Specialty CEO Andrew Wallin. (Bonard’s appointment is subject to regulatory approval).
“Price Forbes Re will build on more than 100 years of specialist insurance broking by creating a reinsurance specialist business that is energetic, entrepreneurial, progressive, and bold,” commented Wallin.
“In an increasingly complex world, success in business relies more than ever on effective and strategic risk management, and Price Forbes has a reputation for partnering with clients around the world who are looking to understand and balance today’s risk and plan for the future,” he added.
“Our approach breaks from traditional reinsurance models to provide the agility needed in today’s fluid, rapidly changing world,” Bonard said. “As Price Forbes Re, we will continue to bring a fresh perspective to a market increasingly lacking flexibility and draw on a rich history of driving innovation in risk management.”
Ardonagh Specialty is a holding company and growth platform for leading independent brokers across the wholesale, specialty and reinsurance sectors. It is a subsidiary of the Ardonagh Group, the UK-based independent insurance distribution platform and a top 20 broker globally.
Source: Ardonagh Specialty
Topics Excess Surplus Reinsurance
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