Hughes leads retrocession team at PartnerRe
PartnerRe has appointed Nicholas Hughes to the newly created role of head of retrocession, and made two hires to further expand its retrocession team.
Mr Hughes, who joined the company in 2008, was head of global catastrophe, which included responsibility for assumed retrocession and global accounts portfolio.
He will be based in Bermuda.
Aaron Coates and Guy Hengesbaugh will join the retrocession team as assumed retrocession underwriters, effective November 7 and October 1, respectively.
Mr Coates will relocate to Bermuda, subject to immigration approval. He joins PartnerRe from Twelve Capital, where he was executive director, ILS sourcing, responsible for developing the underwriting strategy within the retro market and delivery of profitable private ILS investment portfolios to third-party investors.
Mr Hengesbaugh will be based in Bermuda. He joins on a consultancy basis, bringing more than 35 years of reinsurance experience, including 26 years in the Bermuda market. He most recently served as managing director at Guy Carpenter Bermuda, focusing on reinsurance and retrocessional business for Bermuda and United States clients.
Both Mr Coates and Mr Hengesbaugh will report to Mr Hughes, as will Mark Mitchell, who already works as vice-president, senior underwriter within the retrocession team.
Greg Haft, chief executive officer of global catastrophe at PartnerRe, said: “I am excited to welcome Aaron and Guy to the PartnerRe team. As the catastrophe market shifts, we anticipate an increasing demand in the retrocession space for known and trusted providers with well-rated paper. We are thus adding to our incumbent talent to build a powerhouse retro team under Nick's leadership, to fill this important market need.”