London-based global industry veteran expected to help market-disrupting reinsurance broker deliver best possible terms to client insurers.
(Tampa, FL) December 11, 2018—Florida-based catastrophe reinsurance broker COIN Re announces the appointment of global property reinsurance professional Andy Crichton as Executive Vice President, effective as of December 7, 2018. Crichton will be based in London, England, where he will manage COIN Re’s reinsurance marketing and placement strategy. “We are delighted to have Andy on board,” says COIN Re CEO E.W. “Ted” Blanch. “His market intelligence, based on more than 25 years of high-level broking and underwriting, will provide COIN Re with a level of perspective and expertise rarely found in the brokerage business.”
Before his appointment at COIN Re, Andy Crichton held senior underwriting positions at premier reinsurance companies worldwide. 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 Syndicate at Lloyds. Crichton joins COIN Re from Barbican Syndicate where he served as Property Treaty Underwriter. He holds an honors degree in Economic Geography from the University of Hull, and during his time in Bermuda, spent four years as the National Coach, Bermuda Women’s Rugby.
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.
“On behalf of everyone at COIN,” says Blanch, “we look forward to having Andy join our company. He will be integral to our broking process and help ensure that we deliver on our promise to secure the best possible terms for our clients.”
About COIN Re:
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.
Joining him as senior officers of COIN Re are President–Marketing Michael W. Cashman, CFO Richard R. Allen, EVP Andy Crichton, and Vice President Kevin A. Mora. The company is headquartered in Tampa, Florida. Visit www.coinreinsurance.com.
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Karla Jo Helms