Cayman Islands-domiciled reinsurer Greenlight Capital Re has appointed Ian Maguire as Active Underwriter for Greenlight Innovation Syndicate 3456 (Syndicate 3456), subject to regulatory approval.
Maguire has four decades of distinguished Lloyd’s and London market insurance experience, and has previously served as Executive Director of Argenta Holdings and as Active Underwriter of Argenta Syndicate 2121 from 2011 to 2021.
At Argenta, he managed the syndicate’s property direct and facultative account and oversaw the development of its other, predominantly short-tail, classes of business.
Before this, in 2004, Maguire was responsible for North American direct property facility business at Wellington Underwriting.
This follows the announced transition of Syndicate 3456 from a Syndicate-in-a-Box to a full Lloyd’s syndicate effective 1 January, 2027.
To recap, Syndicate 3456 writes Greenlight Re Innovations business focused on coverholder partnerships and began underwriting as a Syndicate-in-a-Box on 1 April, 2022, supported by third-party managing agent Asta.
The transition will allow Syndicate 3456 to continue supporting coverholders along with more traditional coverholder business, with strong growth anticipated in 2027.
Greg Richardson, Chief Executive Officer, Greenlight Re, commented, “Ian has been assisting Syndicate 3456 as a consultant over the last six months, and we are delighted that Ian is now joining Syndicate 3456, as Active Underwriter, at this significant time in the evolution of Syndicate 3456. Ian’s nearly 40 years of experience in the Lloyd’s and London markets, including as Active Underwriter of a major Lloyd’s syndicate with specific expertise in managing delegated authority books of business, will be invaluable as we transition to a full syndicate.
“While Innovations business will remain the primary focus of Syndicate 3456, we plan to expand our offering to include some more traditional delegated underwriting authority and consortia business, as well as a limited amount of treaty reinsurance. Ian’s appointment highlights the investment we are making in our Lloyd’s platform, which is a key part of our overall strategy.”
Maguire added, “I am excited to be joining Syndicate 3456 as it transitions to a full syndicate effective January 1, 2027. Having worked with the team in recent months, I have seen first-hand the quality of the underwriting platform and the attractive and diverse portfolio of Innovations business that Syndicate 3456 has developed.
“Broadening our underwriting appetite is an area where I look forward to applying my experience as Syndicate 3456 grows and establishes itself further in the market.”
