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Specialist reinsurance broker Capsicum Re is wasting no time in beefing up its cyber division.
Announcing a double hire, Capsicum Re said it has tapped Jasper Goring and Prab Naidu to serve as cyber broker and wordings director, respectively, effective immediately. The London-based executives will report to global cyber head Ian Newman and operations director for London property and specialty Samantha Thompson.
Goring, who was a broker at Willis and Lockton, most recently held the role of senior vice president at Paragon International Insurance Brokers where he focused on the cyber business not only in the UK but also in the US. Naidu, meanwhile, was wordings manager at BMS Group. He has over 16 years of experience in (re)insurance contract wordings and also spent time at Guy Carpenter, UIB, and Heath Lambert.
Commenting on the appointments, Newman noted: “Jasper is one of the leading cyber brokers in the London market. His expertise and in-depth understanding of cyber in multiple markets complements and strengthens our knowledge, ensuring we remain effective in placing cyber reinsurance from both our London and New York offices.
“Creating innovative and modern wordings is key in ensuring Capsicum Re remains at the forefront of product development, so Prab’s expertise is a real asset. He is a highly regarded wordings specialist and working alongside our partner, Hogan Lovells, he will construct market-leading wordings that ensure our clients are equipped to deal with the cyber risks they face.”
Meanwhile Matt FitzGerald, managing partner at Capsicum Re’s London property and specialty division, has offered insights into the future of cyber.
“The cyber sector is progressing at an unparalleled pace; we anticipate it will be as big a sector of the market as property and casualty, so it is a key focus area for the business,” he said. “I am pleased to welcome another two excellent hires to our growing team, reinforcing our position as the largest dedicated cyber reinsurance broking practice in the UK and North America.”
