Capsicum Re, the specialist reinsurance broker, is pleased to announce the appointment of Steven Rance who will lead a new business division focussing on mortgage indemnity reinsurance. Rance will report to Rupert Swallow, CEO of Capsicum Re, and begins his new role in February 2018.
Rance joins Capsicum Re from JLT Group where he was executive vice president. Whilst there, he was the architect of NewBuy, the UK’s first government-backed mortgage indemnity initative. He has also led JLT Global Mortgage Solutions since its establishment in 2008, assuming responsibility for all aspects of profit & loss, strategy and international business development. Prior to his role at JLT, Rance was managing director at Radian Europe and Genworth Financial before this. In his early career, Rance worked for a number of top European banks, gaining experience in business strategy, affinity loans and the mortgage sector.
Swallow said: “Capsicum Re is no longer an upstart start-up; it is now an established challenger with an enviable record of attracting the highest calibre talent, and Steve’s joining us is a testament to that fact. I do not believe there is anyone better placed to lead this division; it is a new venture for Capsicum Re, but a longstanding area of expertise for Steve, whose reputation and accomplishments thus far precede him.
“The mortgage indemnity reinsurance market is largely untapped and has a huge potential for growth, and we will work closely with our network to offer the broadest access to both capacity and capital. This is a great opportunity for us and I am delighted to welcome Steve to the team.”
For further information, please contact:
Rupert Swallow – CEO
+44 (0)207 234 4075
Notes to editors
Founded by Grahame Chilton and Rupert Swallow in 2013, Capsicum Reinsurance Brokers LLP Group (“Capsicum Re”) is a reinsurance broker working in partnership with Arthur J. Gallagher as its primary treaty reinsurance broking outlet. Based out of offices in London, Bermuda, Rio de Janeiro, Miami and Santiago, Capsicum Re is focused on attracting the best advocates in the market to provide bespoke and specialist reinsurance advice and products; it boasts the foremost broking teams in the specialist areas of the market that it focuses on.