Susan Richardson has become the first chief operating officer at Bermudian-based Perren Capital Management.

Since the third-party capital reinsurance manager was launched by Darren Redhead in 2024, it has focused mainly on underwriting reinsurance and retrocession for property catastrophe and certain speciality lines, including marine and energy, aviation, terror and cyber-risks.

Ms Richardson, former reinsurance controller for Nephila Capital, has more than 15 years of experience across reinsurance, insurance-linked securities and finance operations. In her new role as COO, she will report to Perren chief executive Mr Redhead.

Mr Redhead said Ms Richardson’s appointment underscored the company’s commitment to having seasoned expertise in all areas of the business, and a strong focus on cultural fit.

“I look forward to working with Susan to deliver a best-in-class, Bermuda-based ILS operating model for our investors, clients and brokers,” Mr Redhead said.

The new COO was excited to be joining PCM at such a foundational point.

“Darren’s proven accomplishments in the industry, combined with his entrepreneurial and forward-thinking culture, offers a compelling and unique opportunity,” she said.