PartnerRe has announced the appointment of Nicholas Hughes in the newly created role as head of retrocession, as well as two new hires within its retrocession team.
In his new role, Hughes will lead PartnerRe’s strengthened retrocession team as part of its strategic growth plan for Global Catastrophe.
Based in the Bermuda office he will continue to report to Greg Haft, CEO Global Catastrophe.
Hughes most recently served as head of global catastrophe at Partner Re, having joined the company in 2008.
Aaron Coates and Guy Hengesbaugh will also join PartnerRe’s retrocession team as assumed retrocession underwriters, effective 7 November 2020 and 1 October 2020, respectively.
Coates, who will relocate to Bermuda joins the business from Twelve Capital where he most recently served as executive director, ILS sourcing.
Hengesbaugh joins the firm on a consultancy basis and brings over 35 years of reinsurance experience, having most recently served as managing director at Guy Carpenter Bermuda.
Haft said: “I am excited to welcome Aaron and Guy to the PartnerRe team. As the catastrophe market shifts, we anticipate an increasing demand in the retrocession space for known and trusted providers with well-rated paper. We are thus adding to our incumbent talent to build a powerhouse retro team under Nick’s leadership, to fill this important market need.”