Barbican creates Head of Reinsurance role for Syndicate 1955

Barbican Insurance Group, the Lloyd’s and London underwriting focused re/insurer that writes business on behalf of some third-party capital investors, has created a new role of Head of Reinsurance within its Syndicate 1955 and announced two other promotions.

Simon Saunders, previously head of marine, aviation and transport, now takes on the newly created role of Head of Reinsurance at Syndicate 1955.

David Slade, previously head of property, has been promoted to deputy active underwriter for Syndicate 1955.

Ondine Bourrut Lacouture, previously leading casualty treaty and certain liability lines, has been promoted to the newly created role of Head of Insurance for Syndicate 1955.

All three promotions take effect immediately and position the Syndicate for further growth, which will likely be a benefit to Barbican’s third-party capital partners.

The new heads of insurance and reinsurance, Bourrut Lacouture and Saunders, will take on responsibility for oversight of the team underwriting insurance and reinsurance business lines for Syndicate 1955, with the respective heads of underwriting teams reporting directly to them.

Deputy active underwriter Slade will work alongside Andy Caldwell, active underwriter for Syndicate 1955, working to deliver considered growth for the portfolio and to deepen broker relationships.

Active underwriter Caldwell commented, “David is an experienced underwriter with strong technical knowledge, he is held in high regard in the market. As deputy active underwriter I have no doubt that he will help sharpen our focus on profitable underwriting and further improve performance across the business.

“Establishing the new roles of head of insurance and reinsurance creates a more efficient internal structure. It enables quicker decision making, promotes greater interaction between business lines, and ultimately improves our ability to respond to our brokers. I am delighted that David, Ondine and Simon have taken on these roles and look forward to seeing the benefits that this new structure will generate.”

Barbican has worked on a number of collateralised reinsurance structures, including a stop-loss retro style product for Lloyd’s players, and also looks after a Lloyd’s syndicate on behalf of the Credit Suisse ILS team.