T
wo years after it was founded, reinsurance broker Capsicum Re is on the point of moving on to the next phase in its Swallow.
Capsicum Re was founded in October 2013 by Swallow and industry
the market as ‘Chily’ Chilton.
“In some respects it was serendipity—the right people being in the right place at the right time,” Swallow says. “Chily and I had been business partners for more than 15 years and over the last six or seven I’d been running a business with him as both my business partner and my client. We’d invested in a number of interesting opportunities, but our most successful investments had always been in the insurance-related sector.
“At the back end of 2013 we asked ourselves, as we were making more and more investments into the insurance-related sector, if we shouldn’t return to our old ground of reinsurance broking. Over a period of time reinsurance market.”
which, while being a broker itself, did not have a reinsurance subsidiary and which was able to provide Capsicum with all it needed in terms of goods and services to start business straight away.
THE GALLAGHER CONNECTION “We spent some time talking about how we’d do it and in the process we looked at a number of different options resulting in a conversation with and found a kindred spirit with them,” Swallow explains. “The business gained a huge amount of momentum very quickly and so by the beginning of December 2013 we were up and running.”
members of staff in February 2014. They joined at the end of May that set about establishing its business units.
These deal with property, casualty, marine & energy, facultative, specialty
in Bermuda and London. A number of new people will be arriving at the company over the next few months, including Alistair Lockhart-Smith, formerly at JLT Re.
www.intelligentinsurer.com November 2015 | INTELLIGENT INSURER | 13
SHUTTERSTOCK / ALPHASPIRIT
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