Bermudian-based Inver Re, Ardonagh Specialty’s reinsurance broking business, has been rebranded as Price Forbes Re.

Chris Bonard has been appointed group president of the new operation after formerly serving as chief executive officer of Ardonagh Specialty Holdings (Bermuda) Ltd for five years.

A spokesman for Ardonagh said: “Last year Ardonagh Specialty undertook a significant programme of work to optimise our corporate structure and make it easier for our clients to navigate our organisation. This included the consolidation of our specialty insurance broking businesses under the Price Forbes banner.

“We are now ready to take the final step to simplify our client proposition and are delighted to announce that from May 2024, our global reinsurance teams will rebrand to Price Forbes Re.”

He added: “Price Forbes is renowned for its rich heritage in London, Bermuda, and global marketplace. Price Forbes Re will build on more than 100 years of specialist insurance broking by creating a reinsurance specialist business that is energetic, entrepreneurial, progressive, and bold.

“Price Forbes Re is the start of a new and exciting chapter of our story with a look and feel that reflects the Price Forbes heritage while looking to the future as a larger, more formidable force in the market than ever before.

“As Price Forbes Re, we will bring a fresh perspective to a market increasingly lacking flexibility and draw on a rich history of driving innovation in risk management.”