Paraline, a Bermuda-domiciled insurance and reinsurance holding company, has appointed Paul Rayner as active underwriter of Paraline Syndicate 4242 and SPA 6123.

Mr Rayner will also become a member of the group’s board.

Mr Rayner has more than 18 years of experience in global insurance markets. He joins from GC Securities where, as a managing director, he developed and led a series of initiatives in the Lloyd’s and company markets including M&A, start-ups and capital raises.

He has experience in Lloyd’s capacity, reinsurance and securities offerings and has worked with several syndicates across business planning, performance appraisal and their wider operations, alongside developing growth strategies.

Before joining GC Securities, Mr Rayner was a director at Aon Benfield Securities.

Paraline was founded in 2010 by the executive team of Icat Holdings and although domiciled in Bermuda, the company’s base in the Lloyd’s of London market.

Bruce Schnitzer, chairman of Paraline said: “We have built a high-quality portfolio of insurance assets and Paul’s experience and expertise will add greatly to our prospects for future success.

“We have known Paul and respected his capabilities for a long time. He was instrumental in the formation of Syndicate 4242 and has continued to remain close to the business.”