Broker community grows as Vacher returns
McGill and Partners, the boutique specialist re/insurance broker, is to open a Bermuda office.
Kate Vacher has been appointed chief executive officer of the operation, which has received regulatory approval and will open this month.
The company said that the Bermuda office will complement McGill and Partners’ other international operations as it continues with the rapid buildout of its global specialty business.
Ms Vacher began her career in London as an underwriter at Lloyd’s before joining Aspen Insurance as one of the original team, McGill said.
Since then she has held a number of senior roles including group director of underwriting with responsibilities for planning, reinsurance purchasing and capital optimisation across all lines — property, casualty, specialty insurance and reinsurance.
McGill said that Ms Vacher was also active underwriter of the Aspen Syndicate for six years before moving to Bermuda as CEO of the Aspen Bermuda platform.
She will report to Angus Milgate, head of international treaty reinsurance at McGill and Partners.
The company said that Ms Vacher is a further addition to the treaty reinsurance team which has grown substantially in the last year.
Since its inception in May 2019, McGill and Partners said that it has undergone significant growth and now has a presence in London, New York, Miami and Dublin, in addition to the new Bermuda hub.
Headcount has also grown substantially, now more than 360.
Mr Milgate said: “For decades, the re/insurance market in Bermuda has consistently innovated to maintain its position as a major global re/insurance centre.
“We expect this momentum to continue as Bermuda is a world-class re/insurance marketplace for both financial and human capital, and a natural location for McGill and Partners.
“Kate brings an incredible breadth and depth of experience, together with extensive industry contacts, and we are delighted to have her on board for this exciting milestone in the McGill and Partners adventure.”
Steve McGill, CEO of McGill and Partners, added: “Bermuda was a clear next step for us as we continue our international expansion, and we are excited at the prospect of the hub growing over the next few years.
“Direct access to the market in Bermuda will help to facilitate mutual success across all our offices and compound the firm’s significant growth.
“We are delighted to have Kate on board to take the reins of the Bermuda office. The whole team is looking forward to working with her.”
McGill and Partners, which is headquartered in London, said it is a boutique specialist re/insurance broker focused on larger clients and clients with complex and/or challenging needs.
Launched in 2019, the firm said that it has significant backing from funds affiliated with Warburg Pincus, a leading global private equity firm.