Price Forbes launches treaty re division
June 24, 2010
INDEPENDENT broker Price Forbes & Partners has launched a treaty reinsurance division and has lured the former head of HSBC’s reinsurance broking arm. Effective October 1, the newly-formed division will be lead by Paul Bumpstead as managing director of reinsurance. Bumpstead, based in London, has over 40 years’ experience in property and liability reinsurance. “Expanding our capabilities to include treaty reinsurance as part of our overall proposition to clients is a key priority for us and a major pillar of Price Forbes’ growth strategy,” said Michael Donegan, chief executive, Price Forbes & Partners. “Having someone of Bumpstead’s calibre and experience is testament to the emphasis we are placing in this area and I know that our clients will find him to be a valuable asset.” As well as HSBC brokers, which was bought by Marsh at the end of last year, Bumpstead counts...