Mike Palmer, senior consultant at Citadel Risk, has taken up an additional role as London representative for a Bermuda captive reinsurance firm, Fergus Re.
Palmer said that he has taken on the new role “with a view to building a broker network for them to increase the portfolio and create a London based profile to grow the business.”
He noted that Citadel has been working with Fergus over the past 18 months and has been using Fergus as a ‘retro’ style market.
Palmer said: “Fergus now has further deployed capital (and much more to come) so want to develop their own profile and brand. In the short term, Citadel and Fergus will write similar risks on the same slip/basis”, Palmer said.
“This is a great opportunity for Fergus to develop in the London and European market using existing Citadel and new contacts etc. I am very excited to take on this role for Fergus and the board of directors”, he adds.