Insurance executive Nick Foden-Pattinson has been appointed to a dual role by Ardonagh Specialty, part of the UK insurance intermediary Ardonagh Group.

Mr Foden-Pattinson will lead the organisation’s newly formed North America reinsurance team and will also hold the position of president, Price Forbes Bermuda, the specialist global wholesale insurance broker that is part of the Ardonagh Group.

The company said he was previously CEO of RFIB Americas and has experience in creating alternative reinsurance solutions for North American clients.

Mr Foden-Pattinson said: “Being part of The Ardonagh Group gives us the ability to continue to grow the business with a committed management to expand in Bermuda and USA.

“The need for specialty advice has never been more necessary as we head into a hard and difficult market. I believe the model that we are setting up will be an attractive option for clients and markets alike.”

James Masterton, CEO of Ardonagh Specialty, said: “Ardonagh Specialty is the ideal platform to build and grow a strong reinsurance broker in Bermuda and the USA. We are thrilled to be further expanding the Group’s capability in this space and delighted to be doing it with a team of this calibre and expertise.”

The company said the new team will operate through Connecticut-licensed Equinox (Re)Insurance Intermediaries, with Mr Foden-Pattinson holding the position of president. He will work with Roland Pike, who is chief operating officer.

A team of brokers, risk modellers and technicians based in London and in Greenwich, Connecticut, will provide support.

The London team will be led by Jeremy Brasier, supported by Tony Key.