Banyan Risk, a specialty managing general agent launched in Bermuda last year, has announced Peter Horrobin’s role as co-founder and co-CEO.
Horrobin (pictured above) joins Tim Usher-Jones to lead Banyan Risk. The company creates custom directors’ and officers’ insurance risk products for life sciences, global initial public offerings, the technology sector, and special-purpose acquisition companies.
Horrobin has 15 years of underwriting experience in professional liability and management liability. He joins Banyan Risk from Ascot Bermuda, where he served as senior vice president. Before that, he served as managing director and board member at Chubb Atlantic Indemnity.
“I am delighted to be joining Tim to lead Banyan Risk at such an exciting stage in the company’s growth,” Horrobin said. “It is clear that the opportunity we saw to develop a specialized platform is being embraced by clients and the broker community.”
“We are delighted to be able to announce Peter’s co-leadership of Banyan Risk,” said Sid Sankaran, CEO of SiriusPoint, which owns a significant minority stake in the MGA and provides insurance paper and capacity to the company. “SiriusPoint’s mission is to partner with entrepreneurial talent, and having two such highly skilled industry professionals at the helm will give Banyan the breadth and depth of experience to innovate and succeed in the D&O space.”
Banyan Risk also recently announced plans to expand into Canada, subject to regulatory approval. Michael Densham has been appointed president of the Toronto-based office.