Accident and health
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Another potential individual disability insurance loss of $40mn relates to a physician. -
Robert Rechtern has spent the last two years at Lockton as head of A&H, sport & contingency.
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The business will offer warranty, A&H and income protection products.
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The reinsurer’s A&H head Simon Parkinson left earlier this year to join Redriff Underwriting.
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Sources said the Bermuda carrier has been working with Jefferies on the sale.
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The A&H reinsurance underwriter was launched by Peter Wilkins at the end of last year.
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RedRiff Agency will underwrite A&H insurance and reinsurance through a Lloyd’s consortium led by Beat 4242.
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The football club initially sued the broker for £10mn in a claim connected with the death of the footballer in a 2019 plane crash.
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The company announced on Wednesday that Liddell’s deputy Thomas Leonardo would succeed him as global head of A&H, with immediate effect.
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The carrier said a post-Covid rebound in travel was creating opportunities in the A&H sector.
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The broker said it had repeatedly made the football club aware new signings not added to the policy schedule were uninsured.
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Stephen Hitch, senior vice president of underwriting at Xchange Benefits, will lead the new MGU.
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