Multistrat, the specialty reinsurance and capital advisory firm, has announced two senior promotions in its underwriting team as the company continues to build out its expertise, talent, capital, brokers, investors and carrier partners in 2024 and 2025.

The company offers risk protection and capacity for captives, managing general agents, insurers, reinsurers, public entities and run-off specialists.

Kier James is promoted from VP Underwriting, to chief underwriting officer, while EVP Patrick Grealy transitions to the expanded role of Portfolio & Performance Management.

Bob Forness, who was previously Multistrat’s chief executive and CUO will now focus on leading as Group CEO.

He said: “Multistrat is primed for growth and continues to build out its team to help achieve our ambitious growth goals.

“While we continue to add exceptional new professionals to our team, today I want to highlight two members of our team who deserve enhanced roles within our growing company.

“Kier and Patrick’s promotions are testament to their extensive understanding of underwriting, actuarial, and collateralised reinsurance space and their commitment to Multistrat’s exciting evolution as a company.

“During 2024 and 2025, Multistrat will continue to build out its talent base to meet growth demands, increase its footprint into other lines of business and territories, further develop its technology infrastructure for data automation and analytics, underwriting, pricing, claims oversight, collateral administration, and insurance and investment portfolio optimisation. We have a phenomenal opportunity in front of us.”

Multistrat recently completed its tenth year as a founder and innovator of casualty ILS reinsurance, laying the foundations for growth via increasing committed capital, talent acquisition, lines of business geographic territories and broader collateralised reinsurance structural offerings.