Ex CEOs Of Benfield, RenRe Form A Reinsurance Brokerage

Two former top insurance industry chief executive officers said they have joined to start a new reinsurance brokerage based in Greenwich, Conn.

Rod Fox, former CEO of Benfield Inc., brokerage and Jim Stanard, former CEO of Renaissance Re, announced the formal launch of TigerRisk Partners, a privately-held reinsurance intermediary built around a line-up of other top level industry professionals aiming at a select group of clients.

"TigerRisk will provide strategic advice and optimal reinsurance/capital markets solutions to sophisticated clients with complex needs," said Mr. Fox, CEO.

"Customers are tired of the order-taking mentality. They are looking for a competitive advantage and on-going value creation," he continued.

Mr. Fox said TigerRisk will assume the role of "problem solver, innovator, and sophisticated financial solutions provider. The depth of our resident intellectual capital, market knowledge, and industry relationships will enable TigerRisk to provide unparalleled creativity and service."

Joining Mr. Fox and Mr. Stanard are Ted Blanch, former CEO of EW Blanch; Linda Johnson, former executive vice president of Casualty of Benfield; Geraldine DelPrete, former EVP of Willis Re and Gallagher; Tim Bienek, former chief operating officer of Benfield and Praetorian; Marc Lauricella, former EVP of Marketing of Benfield and Praetorian; Milan Radonich, former chief financial officer of Benfield and Praetorian; and Larry LaMere, former EVP of Operations at Benfield.

Besides headquarters in Greenwich, the firm has offices in New York, Minneapolis, Dallas, and San Antonio.

TigerRisk said will provide sophisticated advisory and intermediary services to insurers with complex risks.

"The reinsurance industry is undergoing a fundamental change," said Mr. Stanard. "Major insurers need an intermediary capable of understanding and optimizing their risk profile. TigerRisk will provide our clients with consistent senior level attention delivering thought leadership, decision-making analytics, and innovative solutions through market cycles."

With no legacy or exclusive agreements, Mr. Fox said, "TigerRisk has access to all existing models and analytic tools and is developing several of its own proprietary applications."

Through their partnership with the BMS Group, based in London, TigerRisk Partners (initially known as Alpha Re) said it has access to a full complement of client services including actuarial, financial analysis, catastrophe modeling, contract writing, accounting, and claims.