Bermudian-headquartered reinsurer Roosevelt Road has added industry veteran Darren Bailey to the fast-growing firm.

Mr Bailey steps into the director of ILS and capital markets role with immediate effect, having departed in June last year from Randall & Quilter as its head of business development for M&A legacy transactions.

Based in London, Mr Bailey has 19 years’ experience working across the global reinsurance and ILS jurisdictions, the company said.

Mr Bailey said: “Roosevelt Road complements my hunger for continued success. Their leadership team has a dynamic strategy to business growth, employs an energetic approach to closing deals and demonstrates passion at all levels of the business that deliver year-on-year outstanding results.”

Dan Hickey, CEO, said: “Appointing Darren to our growing and experienced team underlines our commitment to Roosevelt Road’s growth in 2022 and beyond. Darren was well known to our team, having worked closely with us during the Sandell Re transaction and subsequent restructuring with R&Q.

“Having a dedicated capital markets resource will no doubt enhance our visibility in the market via Darren’s vast network and global presence, and we look forward to strengthening our relationships in the ILS market.

“Recalling our main goal for Roosevelt Road, we strive to create a high-quality specialist reinsurance presence in Bermuda.”

Ken Randall, non-executive director of Roosevelt Road, added: “We continue to see high-calibre individuals such as Darren being attracted to Roosevelt Road and clearly highlights the continuation of the controlled expansion since inception in 2020.

“With Duncan King and Joe Bonanno joining the underwriting team in 2021, Dan Hickey is clearly demonstrating the foundations of building another successful entity in addition to the flourishing MGA business in Tradesman Program Managers.”