Inver Re swoops for big name from rival

Inver Re, the reinsurance brokerage division of Ardonagh Specialty, has announced the appointment of Steven Rance (pictured above) to the newly established role of head of specialty London.

Rance, who will be operating from London, will oversee a diverse portfolio that includes credit, marine, cyber, parametrics, motor, and group solutions. With a career spanning 35 years, Rance brings a wealth of experience to his new role.

He transitions to Inver Re from Gallagher Re, where he served as managing partner and head of global mortgage. His extensive background also includes a decade as head of global mortgage at JLT, along with significant positions at Radian, a US mortgage insurer, as European managing director, and at Genworth, a mortgage insurance specialist, as managing director for structured transactions.

“I was attracted to the Inver Re business as its relationship to Ardonagh means it can leverage the scale of that business while also focusing on bespoke and specialist work for its reinsurance clients,” Rance said.

A key part of Rance’s role will involve the establishment of the specialty division and exploring growth opportunities in the credit sector, aiming to support homeownership, house construction, and the expansion of Inver Re’s credit business. He will directly report to Jonathan Prinn, CEO of Inver Re London.

“In the past Steven has headed-up the UK’s first government-backed mortgage insurance programme and led the development of mortgage insurance schemes for housebuilders,” Prinn said. “The skill he brings to Inver Re will hugely support our growth journey as we cement ourselves as a reinsurance broker that truly offers something different to the market.”

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