UK-based Pioneer Underwriters has combined its financial institutions (FI) businesses. The Pioneer merger will place all of it into one overarching global underwriting operation.
The company announced that Richard Coello will lead the global FI team. As a result of the Pioneer merger, the new team will be responsible for all FI business written by Pioneer.
Additionally, the global financial institutions platform will use the same capital base to write business from its offices in Brussels, London and New York.
Pioneer merger changes
Rolando Rodriguez has joined the global FI team. He will be based in New York. Earlier, he served as the vice president for diversified financial services at Pioneer. Leveraging Rodriguez’s expertise, the US brokers can access Pioneer’s capital base directly in the US.
Pioneer group CUO Graeme Rayner said: “It is a key Pioneer ambition to build on its position as a leading global asset management insurance specialist and this multi-platform, single strategy approach will help us achieve this aim.
“With one capital base and a clear, focused risk appetite, the team is ready and geared to offer a market-leading proposition.”
Pioneer Underwriters, the underwriting group within Minova Insurance, manages Pioneer Syndicate 1980.