Broker's reinsurance division now up and running

Specialist insurance broker Price Forbes has unveiled its new seven-strong reinsurance team following the launch of the unit on October 1.

The team is led by managing director Paul Bumpstead, who previously worked in the reinsurance practice of HSBC Insurance Brokers. A further four members of the team - Enrico Ricceri, Rocky De Lucia, Celia Smith and Chris Russell - also previously worked at HSBC Insurance Brokers.

Ricceri will head up business development for Price Forbes' new reinsurance unit, De Lucia will develop international reinsurance business and Smith will have operational responsibility for the new team.

They will be joined by Nicola Giargia, who will develop international business and previously worked at Aon Benfield, BMS and Alexander Howden; and Neil Bramley, who will oversee analytical services and previously underwrote the international property treaty account at Ace Tempest Re Europe.

Price Forbes' newly-formed division will focus on International business and cater for all classes of reinsurance, whether on a traditional or structured basis.

“There have been some considerable changes in the reinsurance broking sector in recent years, often to the detriment of client service. We believe that there is a requirement for a return to the ‘traditional’ values of reinsurance broking that a truly independent niche broking firm is best placed to provide," said Bumpstead in a statement.