Ardonagh Specialty has appointed Jonathan Marsh as deputy CEO of Bermuda and global head of Retro at Inver Re.

The company said Mr Marsh will be running Ardonagh Specialty’s Bermudian business operations alongside CEO Chris Bonard and building out Inver Re’s retro capabilities.

He joins from Gallagher Re, having most recently held the position of chairman of its Bermuda office after the acquisition of Willis Re, where he had previously spent 26 years in various roles including chairman, CEO and deputy CEO of the Global Specialty division.

Mr Bonard said: “It’s great to have Jonathan on board to help us expand our retro team, drive new business and continue to build a responsive and agile option for clients.

“He’s well known and respected across the industry and brings with him a wealth of experience and expertise that will help us achieve our ambitious growth plans.”

Mr Marsh said: “I’m incredibly excited to be joining the team at Inver Re and join their mission to build a client-focused alternative to the big three.

“The combination of an agile start-up mentality with the power of Ardonagh behind presents a compelling opportunity to shake up the market.”

Ardonagh said the appointment as deputy CEO is subject to regulatory approval.

Ardonagh Specialty is the holding company and growth platform for the independent brokers Bishopsgate, Inver Re and Price Forbes.