GC Securities’ Paul Rayner has been appointed as active underwriter of Paraline Syndicate 4242 and Special Purpose Arrangement 6123.
Rayner replaces former active underwriter Megan McConnell who left her position at the end of 2017, later resurfacing at Hiscox Re as director of underwriting.
Rayner will assume his new role in April and will also join the Paraline board.
He joins the carrier from GC Securities where he served as managing director; a role in which he developed and led a series of initiatives in the Lloyd’s and company markets including M&A, start-ups and capital raises. Prior to that, he served as a director at Aon Benfield Securities.
Bruce Schnitzer, chairman of Paraline said: “We have built a high-quality portfolio of insurance assets and Paul’s experience and expertise will add greatly to our prospects for future success.
“We have known Paul and respected his capabilities for a long time. He was instrumental in the formation of Syndicate 4242 and has continued to remain close to the business. He also has longstanding relationships with many of its underwriting capacity providers and with ICAT, the syndicate’s primary distribution partner. And, Paul advised in the transaction through which we acquired ICAT and again at the time of our strategic investment in Asta."