Ardonagh Specialty builds new team to navigate 'hard and difficult' market

Ardonagh Specialty, part of the UK insurance intermediary Ardonagh Group, has formed a North America reinsurance team to be led by Nick Foden-Pattinson, as it looks to expand in a "hard and difficult" market.

Foden-Pattinson was previously CEO of RFIB Americas and has experience in creating alternative reinsurance solutions for North American clients.

The new team will operate through Equinox (Re)Insurance Intermediaries, which is licensed in Connecticut, with Foden-Pattinson holding the position of president of Equinox (Re)Insurance Intermediaries and working alongside Roland Pike in his role of chief operating officer.

They will be supported by a team of brokers, risk modellers and technicians based in London and Greenwich, Connecticut.

Jeremy Brasier will head up the London team supported by Tony Key.

Foden-Pattinson will also hold the position of president, Price Forbes Bermuda.

“Being part of The Ardonagh Group gives us the ability to continue to grow the business with a committed management to expand in Bermuda and USA,” said Foden-Pattinson.

“The need for specialty advice has never been more necessary as we head into a hard and difficult market. I believe the model that we are setting up will be an attractive option for clients and markets alike.”

Ardonagh Specialty CEO James Masterton added: “Ardonagh Specialty is the ideal platform to build and grow a strong reinsurance broker in Bermuda and the USA. We are thrilled to be further expanding the Group’s capability in this space and delighted to be doing it with a team of this calibre and expertise.”