A Bermuda reinsurance executive has been appointed vice president with TigerRisk Partners LLC, a reinsurance broking and risk capital management firm with offices in the US, London, Hong Kong and Bermuda.

Paul Karon was formerly a vice president with Bermuda-based reinsurance company AQR Re. In his new role with TigerRisk he will be a senior leader, dealmaker, mentor and strategic advisor to the leadership team, the company said in a statement.

“With his years of top-level reinsurance broking leadership experience, Paul will play a strategic role in the continued growth of TigerRisk,” said Rod Fox, CEO of TigerRisk, which is based in Stamford, Connecticut. Mr Fox and Mr Karon co-founded Benfield Inc in 2000.

“Paul’s skills are recognised and valued throughout the insurance and reinsurance industry. I look forward to working with him again,” said Mr Fox.

TigerRisk chairman Jim Stanard, said: “I have known Paul for over 20 years. He is one of an elite group of top brokers in the business. We are excited to have him as part of the Tiger team.”

Mr Karon began his reinsurance career in 1985 with EM Blanch. Having helped to co-found Benfield, he served as president and COO and eventually held the positions of CEO and chairman.

After Benfield was purchased by Aon in 2008, he served as chairman americas of Aon Benfield. He then joined AQR Re.

Mr Karon said: “This is a dynamic time in the industry as the interrelationship of the traditional markets and the capital markets grows in importance at a remarkable pace. I look forward to bringing my experience, on both the brokerage and underwriting sides, to bear.”