Concord Specialty boosts reps and warranty practice with new hire

Concord Specialty Risk, a transactional risk insurance and loss mitigation specialist which is a series of RSG Underwriting Managers, has appointed Ilan Peress as vice president, representations and warranty insurance underwriter.

Based in New York, Peress will take on a leading role in Concord’s reps and warranties insurance practice.

Peress has served as reps and warranty underwriting counsel for managing general underwriter Ambridge Partners for the last two years. Prior to that, he worked as a senior associate at KPMG, providing tax services to private equity and strategic clients in the mergers & acquisitions tax practice.

Kenneth De Berry, president of Concord Specialty Risk, said: “Peress is extremely familiar with underwriting Reps & Warranty transactions, with expertise in the accounting, legal, and tax issues critical to the due diligence required of an acquisition. We are very excited to have someone with such industry and market knowledge, as well as underwriting experience, join our team.”

David De Berry, CEO of Concord Specialty Risk, added: “Reps & Warranty Insurance is undergoing significant changes in the underlying risk transfer services expected of carriers. The underwriter that can expeditiously vet and, in some cases, augment due diligence without delay gains a competitive advantage. This requires a deep pool of talent. We are excited to have the experience, skill set,
relationships, and gravitas that Ilan brings with him.”

Peress commented: “Concord is a well-known pioneer firm in the transactional risk space. I am excited to help grow the company’s Reps & Warranty book and to be working with the best and the brightest during a time of extreme growth in the Reps & Warranty Insurance industry. I’m thrilled to be joining the outstanding team at Concord.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

Swiss Re eyes Middle East and Africa expansion with new underwriting hub

Maiden posts $15.4m loss in Q2 2019 but CEO remains poised for recovery

Aon advises HSBC on second largest longevity swap deal ever 

Feature:  Five things re/insurance execs want technology to do for their businesses