Industry Leader, Martin Reith, Joins Prospero Re's Board
Resolute Global’s Prospero Re Names Martin Reith Independent Director
Paul Nealon, Co-Founder and Managing Partner of Resolute Global, said, “Our team is delighted to welcome Martin as an independent director of Prospero Re. His 30-plus years of experience across underwriting, management, and leadership will be a tremendous asset as we continue to meet and anticipate the needs of our clients, write attractive new business, and create value for our investors.”
“I’m delighted to join the Board of Prospero Re at this exciting time in the insurance market,” Mr. Reith said. “Prospero Re’s business has an impressive number of touchpoints with the marketplace and is well-positioned to maximize the opportunities before it. I look forward to supporting the company in its continued growth in the years to come.”
Mr. Reith serves as a Non-Executive Director of Helios Underwriting plc, a Lloyd’s investment and underwriting vehicle. He served in board positions at Neon Underwriting, as CEO from 2015 to 2019, later assuming a Non-Executive Director role until 2020. He was the Founder and CEO of Ascot Underwriting Limited, which he established in 2001 with the support and backing of AIG. Under Mr. Reith's leadership, Ascot became one of the largest and top-performing businesses in Lloyd's with a network of overseas offices. In 2009, Mr. Reith stepped down as CEO of Ascot and served as a Non-Executive Director from 2009 to 2011. Prior to Ascot, he served as CEO of XL Capital's Insurance Operations in London. He is the founder of his family's charitable trust and former Chairman of the Derby-based Maria Hanson Foundation. He is a former director of Amwins.
Resolute Global Partners launched its subsidiary Prospero Re Ltd. in 2013 as a Class 3A Bermuda reinsurance company. Prospero Re, the first Bermuda-based collateralized reinsurance company to be rated, has an ‘A’ rating from Kroll Bond Rating Agency.