Ardonagh Specialty has appointed Patrick Rastiello as chief executive officer of Equinox Underwriting North America, part of the Ardonagh Group.

The company said he will be responsible for building Ardonagh Specialty’s US reinsurance business, making strategic hires and leading business development with key accounts.

Mr Rastiello will report to Ardonagh Specialty CEO Andrew Wallin, working closely with Nick Foden-Pattinson, president of its North American reinsurance business.

The North American team will work closely with Inver Re teams in Bermuda and London to deliver multi-jurisdictional solutions for clients, the company said

Mr Rastiello was previously chief executive officer and president of Accredited, the programme management business of Bermudian-based R&Q Insurance Holdings, where he grew the business to over $1.1 billion premium run rate, leading on underwriting and growth decisions.

Prior to Accredited, he spent 24 years at Aon Reinsurance, where he launched the MGA practice group that became one of the largest MGA brokers in the US.

Mr Rastiello said: “The specialty marketplace in the US is growing rapidly and fundamental changes to the way MGA and specialty business is handled are needed.

“Ardonagh’s, strength, expertise and reputation for embracing change made it the only organisation I would consider joining.

“I look forward to working with my new colleagues across Price Forbes and Inver Re, to usher in a new era of superior guidance for new entrants, traditional underwriters and hybrid carriers alike.”

Mr Wallin added: “The US is the largest and most vibrant reinsurance market in the world. Pat is a pioneer of reinsurance broking and underwriting, and we’re proud to have him leading the charge.”

The company said the appointment is subject to regulatory approvals.