Inver Re, the recently launched global reinsurance brand of the Ardonagh Group, has made a key hire with a focus on alternative sources of reinsurance capital and ILS markets, appointing former RFIB and Howden executive Nick Griffiths as a Director.
Griffiths has joined the Inver Re senior leadership team and will report to the Ardonagh CEO of Reinsurance and Capital, Steve Hearn.
As Director – Reinsurance, Griffiths has been hired for his expertise in broking innovative risk transfer solutions, as well as reinsurance and retrocession, plus his contacts in the alternative capital and insurance-linked securities (ILS) space.
Hearn commented on the hire, “It’s incredibly exciting to be getting the team in place to take Inver Re into the market as a re-imagined reinsurance business. It’s our aim to bring a fresh perspective, choice and flexibility to the market – and attracting and empowering top talent is absolutely key to doing so. I’m very much looking forward to working with Nick, whose expertise and energy is going to help us become a reinsurance business of scale and relevance – and in time a top five global player.”
Griffiths most recently worked at Howden where he was an Executive Director in the firm’s reinsurance broking division, having joined that company in 2018.
Prior to that, Griffiths worked at London-headquartered, private equity backed broking firm RFIB Group Limited for a decade, latterly becoming the firm’s Head of Broking for the reinsurance division.
Griffiths’ career has often seen him working with ILS fund markets and other sources of alternative reinsurance capacity, broking collateralised reinsurance and retrocession solutions.
He also has a track-record in broking parametric risk transfer solutions and assisting insurtech companies on strategy and how to access reinsurance capacity efficiently.
“I can’t wait to get started with Inver Re. It’s a new entrepreneurial, independent platform – with the opportunity to really change the face of reinsurance. I’m genuinely excited to be part of its growth, and to harness the scale, resources and reach of the wider Ardonagh Group to do even more for clients,” Griffiths commented.
Inver Re’s parent Ardonagh recently completed its acquisition of the insurance and reinsurance broking operations of BGC Partners, adding significant growth to its broking operations and building on its ambitions to deliver capital solutions for insurance and reinsurance clients.