Howden

The executives will look to bring the company’s full suite of products to clients.

Other early users include Amwins, Aon, BMS Group, Consilium and Costero.

David Howden, founder and CEO of Howden, said his proposed method of minimising loss is “entirely non-political” and provides guaranteed funds, as well as certainty and the confidence to invest.

The product is led by Canopius and IQUW, with support from three other Lloyd’s insurance company markets.

The incoming cyber head was previously head of cyber for Marsh Europe.

Patrick Bousfield is understood to have resigned from his current role as senior broker at Lockton Re Bermuda.

Eaton is currently the managing director and global head of cargo at Howden Specialty.

The deal comes over a year after this publication revealed that the companies were in takeover conversations.

Last week, this publication revealed that Howden agreed to pay Guy Carpenter in excess of £50mn ($61mn) to settle the poaching suit related to Massimo Reina and a defecting European team.

The 30-strong segment will combine reinsurance and capital markets with data, analytics and technology.

Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among the Lloyd’s carriers understood to have joined the new venture.

The payment represents the largest ever made in a team lift case in the London market.