Lockton

The incoming North American casualty fac leader will report to Rob McNamara, Lockton Re’s fac leader, and will help bolster the reinsurance broker’s North American expansion plans.

Higher returns are available, but at the cost of increased revenue risk, slower results and potential cultural challenges.

The executive will head operations and business development for Lockton’s regional hub, including Denver, Phoenix, Las Vegas, Salt Lake City and Seattle.

If rising prices are not addressed in insurance policies, gaps could leave energy sector players uninsured as asset values exceed insurance limits.

With mega insurers pulling out of the product recall marketplace due to losses, MGAs see an opportunity for innovation, according to Lockton.

Lockton Re has confirmed the appointment of industry veteran Rob McNamara as the new head for its North America facultative business.

Mark Schwartz, bringing over 20 years of financial services litigation and insurance experience, will work in a brand-new position to advise clients through the claims process.

Showvanik Dasgupta has worked at Beach Re, Tokio Millennium Re and Aspen Re, where he started his career.

Davies most recently served as head of global Re specialty Bermuda for the firm’s reinsurance division.

The executive will take on the role of chairman of retro, property specialty, Bermuda and market capital.

Lockton’s reinsurance broking arm is seeking to establish itself as a credible challenger to the Big 3.

The privately owned broker aims to strengthen its facultative broking proposition with the appointment of Melanie Cruz from ASSA.