RKH Reinsurance Brokers (RKH RB), part of the global Hyperion Insurance Group, has hired Dave Saxton from Steadfast Re to its London operations, we have learned, a move which brings additional treaty, ILS and collateralised market broking expertise to the firm.
This hire is part of a wider recruitment drive by RKH RB which has recently included Nick Griffiths, Mark Field and Norman Topche from RFIB joining the firms’ reinsurance broking practice, hires that will bring the firm even more experience in transacting with traditional treaty, alternative and ILS markets.
Saxton brings similar expertise and experience, having spent his last two years as Head of London and as a reinsurance treaty focused broker for Steadfast Re, a position that saw him regularly broking to collateralised ILS markets.
Saxton began his career in the Lloyd’s insurance and reinsurance market in 1998 with a role in property treaty and direct & facultative underwriting at Euclidian Syndicate 1243.
He then joined Beach & Associates for his first move into the broking side of the business, working in both Toronto and London and leading a team of brokers placing treaty business from multiple territories and across multiple classes of business, including Casualty, Property and Terrorism. In that role Saxton also managed the wholesale business Beach placed into the London Market from the U.S., Canada and Australia.
He joined Steadfast Re in late 2016 and led the development of the firms London reinsurance broking operations.
Saxton has always been a multi-class and multi-territory reinsurance broker, but in recent years he has placed an increasing amount of business, both in reinsurance and retrocession, with ILS fund markets.
With Saxton joining RKH RB alongside the RFIB hires, this adds even more experience to the team and the well-known brokers will sit comfortably transacting with both the traditional and capital markets, both in reinsurance and retrocession.
Given the shake-up in broking created by recent M&A deals such as Marsh and JLT, RKH, part of the Hyperion Insurance Group (£535 million of revenues in 2017), will be looking to make these recent hires drive growth for the firm across its reinsurance business.
With extensive contacts and experience in the ILS and collateralised markets, Saxton and the rest of the team at RKH RB will drive a capital agnostic broking approach at the firm, which at a time when broking choice has perhaps been reduced could serve to benefit Hyperion as it continues to expand.