Industry veteran Patrick Bousfield has joined the Bermuda office of Lockton Re as a senior broker.

Lockton Re is the global reinsurance business of the world’s largest privately held independent insurance broker.

Jonathan Davies, CEO of Lockton Re Bermuda, said: “We’re delighted to have Paddy joining our growing team at Lockton Re in Bermuda.

“Through interactions with clients and markets, we’ve highlighted the speciality/casualty market as an expanding area for Bermuda.

“Paddy’s background and success in cyber and specialty lines is a sign of our commitment to developing these capabilities locally. Paddy’s strong relationships, entrepreneurial flair and respected expertise is a great fit for our culture.”

Robert Bisset, chairman, global retrocession and property specialty, Bermuda and market capital, added: “Paddy and our great team in Bermuda are working with colleagues globally to bring the best of Lockton Re to our clients and markets. The success we are having on the island and more widely has been testament to our focused strategy and exceptional talent.”

Lockton Re said that Mr Bousfield joins from Gallagher Re (previously Capsicum Re) in New York, where he led the cyber offering as part of its specialty team.

The company said that he has more than 12 years of treaty and facultative experience working in various global re/insurance hubs including Toronto, Sydney, London and New York.

Mr Bousfield has received a number of industry awards and accolades including the Intelligent Insurers Rising Stars award, Business Insurance Breakout award (North East region) and the Reactions 2019 Reinsurance Broking Team of the Year award, as well as being a finalist for the Insurance Insiders Young Broker of the Year, the company said.

Keith Harrison, international CEO of Lockton Re, said: “While Paddy will be based in Bermuda, we operate as global teams in so much of what we do. Paddy will be yet another linchpin connecting our expertise in London, North America and Bermuda for our specialty and casualty classes, and no more so than in cyber reinsurance and retrocession.”

Nick Durant, North America CEO, Lockton Re, added: “We are invested heavily in cyber, casualty and specialty lines expertise on both sides of the Atlantic and so further connecting that expertise with markets and clients in Bermuda is a natural extension. We look forward to working with Paddy.”