JLT Re adds new Bermuda partner to focus on ILW broking

Reinsurance brokerage JLT Re has announced the addition of a new Partner in its Bermuda office. Nicolas Bardon joins the firm with a reinsurance, banking and finance background and will work closely with the JLT Re industry loss warranty (ILW) broking team.

Nicolas Bardon is expected to start in a few weeks, as a Partner in JLT Re’s Bermuda office reporting to Partner and Head of Office Guy Hengesbaugh.

Bardon joins the broker from Somerset Holdings, where he has been in charge of business development and production since 2013, before which he worked as a banker with positions at CitiGroup and Bank of NY Mellon.

Bardon will coordinate closely with Gary Reynolds and others on the ILW broking team in JLT Re’s Bermuda, London and New York offices.

Commenting on the appointment Hengesbaugh said; “Nicolas is a great addition to the team and we welcome his experience and ability in not just reinsurance but also banking and finance. He will be an invaluable asset to our clients as we continue to expand in Bermuda. Our focus on understanding the long term needs of our clients combined with a more innovative approach to finding the right solutions means our team will continue to build on its success in this important market place.

“We have seen our operation in Bermuda more than double in size over the last 4 years and have benefited from JLT Re’s growing international reach and expertise”.

JLT Re sees its Bermuda office as a key location and part of its strategy to target global reinsurance broking growth.

Strengthening its ILW capabilities with more banking and financial market expertise will be beneficial, particularly given the steady use of ILW’s as hedging and reinsurance or retrocessional risk transfer tools.