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20 October 2017

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Vale adds AIG duo for programme start-up

David Bull 13 January 2017

Vale Insurance Partners has hired a duo of executives from AIG as it looks to expand the staff and infrastructure of its new programme insurance venture, The Insurance Insider can reveal.

According to sources, Rick Christofer, former vice president of casualty underwriting at AIG Private Client Group, has joined to add to the initiative's underwriting ranks.

Meanwhile, Eric Greenberg has moved over from the insurance giant as a vice president and senior actuary.

Both executives are thought to be working for managing general agency (MGA) Vale and the new programme insurer being built by Jamie Sahara.

As previously revealed by this publication, Sahara, who heads up Vale, is seeking approval to begin underwriting programme business on an E&S basis early this year.

The MGA's backers teamed up with private investors including the Quasha family to buy Cayman Islands carrier United Insurance Company on undisclosed terms.

United, with former Swiss Re and Southport Re executive Sahara as chairman, is looking to write on an excess and surplus lines basis in 50 states, subject to regulatory approval.

It is thought that Sahara and his team, which also includes former Dual, QBE and American Safety executive Jason Sears, have already identified a number of programmes ahead of a launch this year.

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