Price Forbes, the independent specialist global wholesale insurance broker, has appointed industry veteran Nicolas Bardon as executive vice-president, Bermuda.

The company said Mr Bardon will work closely with Nick Foden-Pattinson, president of Price Forbes Bermuda.

He joins from Bermuda Brokers where he was a producing broker across several product lines and prior to this he was a broker at JLT Re/Guy Carpenter’s retrocessional property team, the company said.

Price Forbes said Mr Bardon has years of experience as a retro broker and industry loss warranty specialist.

Mr Bardon said: “I am delighted to join Nick Foden-Pattinson and the broader team at Price Forbes and Ardonagh to expand their client offering.

“The ILW market has been very active since the beginning of the pandemic over a year ago. Last year’s price increase attracted the traditional markets as well as the start-ups to write ILWs and we anticipate that buyers’ appetite for these products will remain strong at renewal.

“The reinsurance market, especially in Florida, and the retro market have an impact on ILW prices and the actual outcome suggests some price stabilisation and growing trading activity especially in light of the potential increase of natural catastrophe frequency.”

Mr Foden-Pattinson said: “We’re delighted to have attracted someone of Nic’s expertise and experience to expand the business.

“Price Forbes Bermuda and the Ardonagh Group is committed to delivering independent placement and advice to clients across the world and Nic’s appointment will help us to deliver on our commitment.”

Price Forbes is part of The Ardonagh Group Ltd, the diversified and independent broking and underwriting group.

In addition to Bermuda, Price Forbes has offices in Brussels, Chile, Dubai, London, Malaysia and South Africa.