Beat Capital Partners (“Beat”), a long duration investor specialising in the insurance industry, today announces the launch of RedRiff Agency Limited (“RedRiff”), a specialist Accident & Health (“A&H”) underwriter.
The business will provide cover for a broad range of specialised A&H insurance and reinsurance and will underwrite through a Lloyd’s consortium, led by Beat Syndicate 4242. Peter Wilkins will join as CEO in December while underwriting is set to begin in Q1 of 2024. The team is expected to build out in due course.
Wilkins brings more than 35 years of A&H experience to RedRiff having most recently been QBE Re’s Global CUO, following 18 years as its head of specialty. He also led the A&H account for QBE Syndicate 566 and spent 13 years as a personal accident underwriter before joining QBE. Wilkins is a market leader and brings a deep understanding of the A&H market.
Wilkins said: “I am delighted to be working with Beat to establish a new business. At a time when we are seeing strong conditions in the A&H market the challenge of establishing a new competitor is an exciting prospect and, with the backing of Beat, I’m confident that we won’t be considered a new entrant for very long.”
John Cavanagh, chairman of Beat, said: “There are very few carriers who can lay claim to a market-leading underwriter with the experience of someone like Peter. His expertise and reputation exemplify Beat’s approach to business, talent, and providing the best solutions for our clients; we are thrilled to partner with him and excited for the prospects of RedRiff.”