New COIN Re EVP Will Oversee Marketing and Placement Strategy
AM Best wrote an article on JoTo PR Client, Coin Re, titled, Florida-Based Broker Coin Re Taps Barbican’s Crichton as EVP in London.
Florida-based catastrophe reinsurance broker COIN Re has appointed global property reinsurance professional Andy Crichton as executive vice president, effective Dec. 7, 2018. Crichton will be based in London, England, where he will manage COIN Re’s reinsurance marketing and placement strategy. Crichton joins COIN Re from Barbican Syndicate where he served as property treaty underwriter. Previously, Crichton held senior underwriting positions at worldwide reinsurance companies. During 11 years in Bermuda, Crichton served as vice president, XL Re; senior class underwriter, Catlin Insurance; and vice president Americas Property Catastrophe, Endurance Specialty.
He started his career as a property retrocession broker for Willis Re and later as a property treaty underwriter for Ascot Underwriting at Lloyds. COIN Re was founded with the goal of reducing the overall cost of reinsurance in the property field through lower reinsurance premiums, reduced frictional costs, and by offering shared ownership of the firm to its client insurers. Ultimately, the company wants to enable insurance companies to reduce their operating costs and lower premium costs to the insurance consumer.
COIN Re was founded in 2018 under the leadership of E.W. “Ted” Blanch. As an innovator spanning decades, after joining E.W. Blanch & Co. in 1958 he became CEO in 1977 and held the position until 2000. The company was sold in 2001. He then formed Ted Blanch & Associates, a consultancy to the reinsurance industry. COIN Re believes in changing the status quo. Catastrophe reinsurance market economics have been tipped in favor of reinsurers, and client/broker interests have been misaligned, ultimately hurting the end user—the consumer. As serial innovators in the market, COIN Re’s principals are aligning client/broker interests by giving insurance companies significant ownership in COIN Re, resulting in market economics tipping back to ceding companies with resultant improved reinsurance program pricing, lowered frictional costs and revenue distribution and equity value accumulation back to the insurance companies—and by doing so, potentially improve property insurance premiums for consumers. Visit www.coinreinsurance.com.
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