Conduit Reinsurance Ltd’s strategy to explore opportunities for an expanded product line has taken a step forward with the hiring of a senior underwriting professional in specialty reinsurance, its parent company said today.

Conduit Holdings Limited, the ultimate parent company of the Bermudian-based multi-line reinsurance business, has announced the appointment of Winfried Knust to support growth in credit, surety, political risk and mortgage classes of reinsurance.

Mr Knust has more than three decades of experience across the credit, surety, political risk and mortgage reinsurance markets.

He was most recently underwriting manager and head of Zurich operations at Navigators Re, where he managed a global team writing trade credit, surety and political risk business.

Previously, he held senior underwriting roles at Aspen Re and Converium (Scor), where he developed and managed profitable portfolios of credit reinsurance.

Stephen Postlewhite, chief underwriting officer, said: “We are delighted to have the benefit of Winfried’s extensive industry expertise and experience in specialty reinsurance classes of business.

“This relationship will support our plans to selectively enhance our product appetite. Marc Bearman and our specialty team will work closely with Winfried to execute our underwriting strategy and identify attractive areas to diversify our portfolio.”

The company said Conduit Re has global reach and is licensed by the Bermuda Monetary Authority as a Class 4 insurer, with an AM Best financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-” (Excellent). The outlook assigned to these ratings is stable.