Lockton Re’s retro practice boosted by Simon Moore & James Boon

Lockton Re’s non-Marine retrocession and property specialty reinsurance broking division has expanded in recent days with the joining of former CATCo CUO Simon Moore and Aon broker James Boon.

The additions are timely with the approaching January 2022 renewals expected to see a retrocession market that has dented capacity available and may be dislocated due to challenges faced by some retro specialists after recent catastrophe events.

Lockton Re announced the hiring of Simon Moore, the former Chief Underwriting Officer of CATCo, as a Senior Broker within its Non-Marine Retrocession & Property Specialty team in London, earlier this year.

Moore has now joined and brings Lockton Re almost 30 years of market experience in both London and Bermuda in both underwriting and broking.

Much of the experience has featured the retrocession market, including collateralised products and a significant amount of interaction with third-party capital and insurance-linked securities (ILS) strategies or markets.

Moore’s career began at Lloyd’s before moving to broking group Aon in 2002 as a Loss Modelling Analyst and Account Manager for North American Property Treaty. He then worked at Gallagher Re in London and Bermuda, subsequently becoming a Broker at Aon Benfield in Bermuda and in 2015 moved to Markel CATCO as a Senior Underwriter, then becoming CUO of CATCO’s Investment Management operations.

James Boon has joined Lockton Re’s London team in the non-Marine retrocession and property specialty area as well, having most recently been a Reinsurance Broker at Aon specialising in Property Retrocession and Cat/Risk on D&F, but also has underwriting experience with time spent at Arch and CNA Hardy and is a well-known broker in the London market.

Matt Foreman, Head of Non-Marine Retrocession and Property Specialty, Lockton Re, commented on the joiners, “The progress of the team, established in Q4 2020, has been phenomenal and we could not be happier with the build out. We are humbled by the positive market support and engagement that we have been afforded which has helped drive our early momentum and numerous successes to date. Working closely with our Bermuda office and our colleagues in the US, along with our excellent global analytics team, we have had a busy summer of RFP’s and reviews and we expect that trend to continue in to 2022. Simon and James bring an important boost to our resource, skillset and diverse offering to clients as we head into a potentially complex renewal in the retrocession market.”

Bob Bisset, Chairman, Global Retrocession & Property Specialty, Bermuda and Market Capital, Lockton Re, also commented, “Fantastic to have Simon and James as part of the Lockton Re global team, their individual and collective talents will enhance our capabilities to deliver superior service to our burgeoning client base. Our Non-Marine retrocession and property specialty team benefits from Lockton Re’s collaborative approach across divisions and geographies, coupled with our investment in talent and technology enabling us to deliver content, expertise and value to clients as a genuine and compelling alternative.”

The timing of these joiners is opportune for Lockton Re, as it continues to build-out its expertise in the important retro and specialty reinsurance marketplace.