Banyan Risk Secures New D&O From PartnerRe
Banyan Risk Ltd announced a long-term strategic alliance with global reinsurer PartnerRe to expand its Directors and Officers [D&O] Insurance capacity.
A spokesperson said, “This collaboration will enable Banyan Risk to expand its line size for D&O coverage up to $10 million, with PartnerRe’s commitment of $5 million providing essential capacity and support.
“This news follows closely on the heels of Banyan Risk’s collaboration with PartnerRe to write Excess Casualty Insurance, led by industry veteran Alan Rodrigues. This continued and growing cooperation underscores the strength of our relationship and shared commitment to delivering comprehensive insurance solutions to our clients.
“Banyan Risk, founded by Peter Horrobin and Tim Usher-Jones, has been writing D&O Insurance since its founding in 2021. With over $130 million of premium written, Banyan Risk has established itself as a significant player in the market. Headquartered in Bermuda, the company has expanded internationally, establishing a subsidiary in Canada [Banyan Risk Services Ltd.].”
“At a time when some market participants are exiting classes of business or reducing limits within D&O, Banyan Risk is committed to supporting our clients. Banyan Risk has been growing substantially since its inception in both lines of businesses and geographies, and this is another significant step in our evolution. We could not be more pleased to be expanding our relationship with PartnerRe,” said Peter Horrobin, co-CEO of Banyan Risk Ltd.
“We are excited to expand our relationship with Banyan Risk into the D&O space,” said Joel Livingston, Head of Insurance Programs at PartnerRe. “This continued collaboration reflects our shared commitment to delivering innovative and comprehensive solutions, leveraging Banyan Risk’s specialized expertise and PartnerRe’s financial strength to meet evolving market needs.”
