RedRiff will provide cover for specialised A&H insurance and reinsurance through a Lloyd’s consortium, led by Beat Syndicate 4242.
Beat Capital Partners has launched RedRiff, a specialist accident and health (A&H) underwriter.
Peter Wilkins has been appointed CEO of RedRiff, joining this month to begin underwriting in the first quarter of 2024, the long duration insurance industry investor said
Beat said its new business will provide cover for a broad range of specialised A&H insurance and reinsurance and will underwrite through a Lloyd’s consortium, led by Beat Syndicate 4242.
Wilkins was previously QBE Re’s global chief underwriting officer, following 18 years as that insurer’s head of specialty.
He also led the A&H account for QBE Syndicate 566 and spent 13 years as a personal accident underwriter before joining QBE.
“I am delighted to be working with Beat to establish a new business,” Wilkins said.
“At a time when we are seeing strong conditions in the A&H market the challenge of establishing a new competitor is an exciting prospect and, with the backing of Beat, I’m confident that we won’t be considered a new entrant for very long,” he said.
John Cavanagh, chairman of Beat, added: “There are very few carriers who can lay claim to a market-leading underwriter with the experience of someone like Peter.
“His expertise and reputation exemplify Beat’s approach to business, talent, and providing the best solutions for our clients; we are thrilled to partner with him and excited for the prospects of RedRiff.”