Howden Tiger reveals new leadership for ‘more powerful’ legacy unit

Howden Tiger, the reinsurance arm of broker  Howden Broking Group, has revealed a new leadership for its legacy division following the departure of Linda Johnson, formerly head of legacy and partner at TigerRisk.

The company has promoted head of structured reinsurance Seth Ruff (pictured) and expanded his responsibilities to include the oversight of its legacy division.

Furthermore, Howden Tiger’s legacy and investment banking divisions have been brought under common management, reporting to Jarad Madea, CEO, Howden Tiger Capital Markets & Advisory.

The new structure is designed to enable cross-discipline solutions and a range of options for clients, such as the sale of a legal entity versus the purchase of a reserve cover, representing a significant step in Howden Tiger’s strategy to align its expertise and experience.

The move follows the appointment in October 2022 of Ken Kruger, a 30-year industry veteran and former head of Munich Re Capital Partners, as a senior broker specialising in legacy and structured reinsurance.

Additionally, the combination of TigerRisk and Howden has created a large legacy operation in London that includes Kevin Soopen, Vijay Mavani and David Watson, all of whom have deep experience in capital solutions including Funds at Lloyd’s (Lloyd’s FAL) and legacy transactions.

Rob Bredahl, CEO of Howden Tiger, said: “This is a simple case of ‘more powerful together.’ This combination allows us to bring even more horsepower to our clients at the intersection of capital and risk.”

Jarad Madea, CEO, HTCMA, commented: “The Legacy and Investment Banking teams have a long history of collaboration, with more than 25 recent projects where together we explored a range of solutions from M&A to capital raising and sidecar formation to legacy reinsurance solutions. These projects revealed the powerful, complementary nature of our combined team.”

Ruff, head of legacy and structured reinsurance, added: “It has been clear for some time that the teams operate in the same marketplace, but with different tools. Together we will deliver a seamless offering across the full spectrum of capital solutions.”

Howden Tiger’s legacy division consists of a team of experienced brokers and actuaries in the US and London who advise clients in the design and execution of Loss Portfolio Transfers, Adverse Development Covers, Reinsurance to Close (RITC), Part VII transfers and other Insurance Business Transfer transactions. The combined Legacy and HTCMA teams now comprise over thirty professionals across offices in New York, London, and Minneapolis.

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