Capsicum Reinsurance Brokers L.L.P. is opening a New York cyber hub that will be led by Patrick Bousfeld, who has been promoted from broker to executive broker, the specialist reinsurance broker said Monday.
Mr. Bousfeld, who joined London-based Capsicum Re in 2016, will report to Ian Newman, global head of cyber, who is based in London.
Capsicum Re, which was founded by former Aon Benfield Chairman Grahame Chilton and former Benfield Group P.L.C. Chief Operating Officer Rupert Swallow in 2013, works in partnership with Itasca, Illinois-based Arthur J. Gallagher & Co. as its primary treaty reinsurance brokerage unit.
The London-based reinsurance brokerage team of Arthur J. Gallagher & Co. has transferred to Capsicum Reinsurance Brokers L.L.P., the reinsurance brokerage set up earlier this year as a joint venture between Gallagher and Capsicum Private Office L.L.P., the family trust of former Aon Benfield Chairman Grahame Chilton.