Global reinsurer PartnerRe has entered into a strategic partnership with Banyan Risk, a specialty managing general agent, to write excess casualty insurance, subject to approval by the Bermuda Monetary Authority.
Under the collaboration, PartnerRe will provide capacity and shareholder support for the launch of a new subsidiary called Banyan Excess Liability Ltd. (BELL). Based in Bermuda, BELL will operate under Banyan Risk Ltd, focusing solely on excess casualty insurance.
BELL will be led by Alan Rodrigues, who has been appointed CEO. He will be responsible for providing client solutions to the excess casualty market, which currently faces a challenging environment.
Rodrigues will build out a local team in Bermuda, reporting to the BELL board of directors. He brings nearly 40 years of experience in excess casualty, overseeing billions in gross written premiums.
Prior to joining BELL, Rodrigues served as Executive Underwriting Officer for casualty, leading Markel Specialty’s broad casualty business, including the Bermuda market. Previously, he spent 13 years at AXIS Capital in London, Bermuda, and the United States. He also has 16 years of experience with General Star Management, a general reinsurance company. Rodrigues began his career at Safeco Insurance in 1985 as a casualty underwriter.
His new role at BELL marks an expansion into a new Banyan product line, following the 2021 launch of Banyan Risk Services Ltd. in Canada.
