McGill and Partners targets Bermuda market with ex-Aspen as CEO

Specialist re/insurance broker  McGill and Partners is set to launch a Bermuda operation later this month as part of its international expansion strategy, with the hiring of a top Aspen Insurance executive taking on the role of CEO.

The broker has gained regulatory approval to open an office in Bermuda, in addition to its existing presence in London, Miami, New York and Dublin.

The new Bermuda hub will be led by Kate Vacher as chief executive officer (CEO) who joins the company from Aspen Insurance Group.

Vacher was most recently CEO of Aspen's Bermuda platform and group director of underwriting, with responsibilities for planning, reinsurance purchasing and capital optimisation across all lines. She began her career in London as an underwriter at Lloyd’s, before joining Aspen Insurance as one of the original team, where she held a number of senior roles including active underwriter of the Aspen Syndicate for six years before moving to Bermuda.

In her new role, Vacher will report to Angus Milgate, head of international treaty reinsurance, which the broker says has "grown substantially" in the last year.

“For decades, the (re)insurance market in Bermuda has consistently innovated to maintain its position as a major global (re)insurance centre. We expect this momentum to continue as Bermuda is a world-class (re)insurance marketplace for both financial and human capital, and a natural location for McGill and Partners,” said Milgate.

“Kate brings an incredible breadth and depth of experience, together with extensive industry contacts and we are delighted to have her on-board for this exciting milestone in the McGill and Partners adventure.”

Steve McGill, CEO of McGill and Partners, commented: “Bermuda was a clear next step for us as we continue our international expansion, and we are excited at the prospect of the hub growing over the next few years. Direct access to the market in Bermuda will help to facilitate mutual success across all our offices and compound the firm’s significant growth. We are delighted to have Kate on board to take the reins of the Bermuda office. The whole team is looking forward to working with her.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.