Banyan Risk Ltd, the Bermudian-based specialty managing general agent, has appointed Ben Munro to the newly created role of chief underwriting officer.

Mr Munro will be responsible for overseeing the execution and achievement of Banyan Risk’s plans for profitable growth globally, as well as using his depth of experience in the Bermuda market and insurtech industry to enhance Banyan’s data-driven models.

Banyan Risk launched in 2021 and is regulated by the Bermuda Monetary Authority. The MGA creates bespoke directors’ and officers’ insurance-risk solutions for life sciences, global initial public offerings, the technology sector and special-purpose acquisition companies.

In an extensive insurance career spanning three decades, the company said, Mr Munro has held several senior underwriting leadership positions at AIG, Chubb and Markel in Canada and Bermuda.

In 2018, Mr Munro cofounded and was chief executive of Briza, a software firm focused on enabling digital connections between insurers, distributors and customers.

“We couldn’t be more delighted that Ben will be joining the Banyan team,” said Tim Usher-Jones, cofounder and CEO of Banyan Risk.

“Ben’s extensive understanding of the global insurance market combined with his market-leading expertise and experience of D&O, financial institutions and cyber business lines will be central to our continued profitable growth.

“And with half a decade spent building a successful insurtech company, we will continue to build out a best-in-class data and technology offering. He will greatly enhance our client and broker experience, and strengthen our global team.”

Mr Munro said: “I am extremely excited to be joining the Banyan Risk team as they continue to expand globally and look forward to helping to achieve our ambitious growth goals. We have a phenomenal opportunity in front of us.”