BERMUDA, 8th October 2021 - Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, is pleased to announce that Patrick (Paddy) Bousfield has joined the Bermuda office as a Senior Broker.
Commenting on the appointment, Jonathan Davies, CEO, 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 & 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.”
Paddy joins from Gallagher Re (previously Capsicum Re) in New York, where he led the Cyber offering as part of Gallagher Re’s Specialty team. He has over 12 years of Treaty and Facultative experience working in various global (re)insurance hubs including Toronto, Sydney, London and New York. Paddy 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.
Keith Harrison, International CEO, Lockton Re, says, “While Paddy will be based in Bermuda, we operate as global teams in so much of what we do. Paddy will be yet another lynch pin 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, concluded, “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.”