Specialist managing general agent Banyan Risk has hired industry veteran Dan Malloy to help drive its next phase of growth as its new executive managing director.

A long‑standing contributor to Banyan Risk’s early development, Mr Malloy returns in a senior, full‑time role as the business accelerates across products, teams and key markets.

The firm said Mr Malloy joins Banyan Risk with a long and distinguished career in the global insurance and reinsurance market, having held senior executive and leadership positions across a range of brokerage, insurance and reinsurance companies.

Starting on Friday, he will work closely with company founders and chief executives Tim Usher-Jones and Peter Horrobin.

“Dan is a highly respected industry leader with a track record of profitably growing speciality insurance and reinsurance platforms,” Mr Usher-Jones said. “His experience and perspective will be invaluable.”

Mr Horrobin said Mr Malloy understands exactly what it takes to build a high-performing underwriting platform.

“Having him back in a full-time leadership role is a significant step for us,” he said.

The announcement follows last quarter’s appointment of John Berger, Bob Cox and Andrew Cook to the senior advisory board.

Since its launch in 2021, Banyan Risk has expanded its underwriting capabilities, product offering and geographic footprint.

Founded by Mr Usher-Jones and Mr Horrobin, Banyan Risk is a headquartered in Bermuda, focused on delivering bespoke insurance solutions across complex and niche areas of the market.

Mr Malloy is a veteran insurance and reinsurance executive with four decades of industry experience. Most recently, he served as CEO of United Risk, an MGA platform.

“What really attracts me back to Banyan is the substance of what Peter, Tim and the team are building,” Mr Malloy said. “Over a relatively short period of time, the business has evolved from a focused D&O platform into something much broader, with real depth and credibility.”

He said that transformation does not happen by accident, but reflects a huge amount of hard work, disciplined growth and a relentless focus on building a quality and profitable underwriting business.

“I’m excited to join at a point where that effort is being recognised and there is a real opportunity to build on it,” he said.