Ryan Re Underwriting Managers, LLC, (Ryan Re) a reinsurance focused subsidiary of Ryan Specialty Group (RSG), has named former Aspen exec Emil Issavi as Chief Executive Officer and President, while Brian Boornazian has become Executive Chairman.
Ryan Re is an RSG affiliated reinsurance managing general underwriter and was previously led by Brian Boornazian (the former CEO of Aspen Re).
The MGU acts as the exclusive underwriting manager for joint-venture reinsurance entity Geneva Re, which is a Bermuda domiciled reinsurance vehicle and underwrites business on behalf of U.S. based insurer Nationwide.
Ryan Re was launched in 2019 and specialises in North American Property and Casualty treaty reinsurance, underwriting on behalf of Nationwide.
Issavi and Boornazian will remain actively engaged in all aspects of Ryan Re’s management, underwriting and business development.
Issavi joined Ryan Re in 2019 around the time of its launch, departing his role as CUO at Aspen Re.
Patrick G. Ryan, Chairman and CEO of Ryan Specialty Group, commented, “These executives are exceptional and have developed Ryan Re from its incubator stage to a thriving, ongoing entity. Through Brian and Emil’s leadership with strong support from our partners at Nationwide, in less than two years Ryan Re has established itself as a premier market for North American Property and Casualty treaty business. We want to thank our clients and brokers for the tremendous support and look forward to expanding our relationships.”
Ryan Re has also named Steve Capodanno as Chief Operating Officer and he will continue to hold the additional responsibilities of Ryan Re’s Head of Claims in addition to his new role.