Amwins hires Foden-Pattinson and Brasier in portfolio transfer from Price Forbes Re

Amwins has added Nick Foden-Pattinson and Jeremy Brasier along with a number of their colleagues from Price Forbes Re’s Equinox Re platform to focus on sourcing primary and reinsurance capacity in support of the intermediary’s underwriting platform, The Insurer can reveal.

In a statement to this publication, Price Forbes Re and Amwins described the move as the two firms agreeing a transfer of part of the Equinox Re portfolio based in Bermuda and London.

They confirmed that under the terms of the deal, one individual from the Equinox Re team in Bermuda and eight individuals in London will join Amwins Global Risks (AGR) and Amwins Bermuda with a focus on capacity building and reinsurance.

In the statement, Price Forbes Re president Chris Bonard said the firm’s priority had been to ensure its clients experience a “seamless transfer” as Amwins moves the accounts to an in-house service model.

“We’d like to thank the Amwins team for their collaborative efforts, co-creating a solution that has put the clients and colleagues involved first. We wish the team all the best for the future,” he continued.

AGR CEO Nate Mathis added that Foden-Pattinson, Brasier and their colleagues will advance the firm’s expertise in reinsurance placements.

“Their experience will facilitate the placement of reinsurance capacity to support Amwins’ specialty underwriting programs as well as the specialty programs of select third-party accounts. We look forward to welcoming them to Amwins,” he continued.

The remaining Equinox Re North American team, led by recently joined CEO Pat Rastiello, will shortly be renamed to Price Forbes Re, following the launch of the brand into the Bermuda and London markets earlier this year.

Foden-Pattinson was most recently president of Equinox Reinsurance Intermediaries in Bermuda, with Brasier listed as a managing director in London, according to the firm’s website.

Ardonagh-owned Equinox Re and Inver Re were rebranded to Price Forbes Re earlier this year in a move designed to align the group’s wholesale and reinsurance broking businesses under a longstanding brand.

Sources said that the team will be distinct from facultative-focused Amwins Re.

Although there will be a reinsurance focus, it will not be on traditional treaty business but instead on putting together capacity for programs that sit within Amwins’ large and growing in-house underwriting platform as well as for third-party clients of the firm.

Amwins’ underwriting business includes more than 100 programs with open market delegated authority business and programs that are exclusive to the firm’s wholesale brokers, such as the suite of products housed in its Special Risk Underwriters platform.

The team will be located in London and Bermuda and will be active in finding primary and reinsurance capacity in the London, Bermuda, US and international markets.

They are expected to work with Amwins CUO Mark Bernacki and Munawar Ali, who was appointed a year ago to lead product development and strategic capacity initiatives at the firm, which is the largest wholesaler in the US and also has a large London presence.

Foden-Pattinson joined Price Forbes in Bermuda in November 2020, after 11 years at RFIB Group Limited, where his roles included CEO of RFIB Americas and managing director of alternative reinsurance products.

Earlier in his career he was chairman at Jago Managing Agency and a director at reinsurance broker RK Carvill.

Brasier worked with Foden-Pattinson at RFIB in Bermuda before joining Price Forbes, and previously spent eight years at Kirkway International and Lloyd’s broker JK Buckenham.