Lockton Re, the reinsurance arm of the impartial broking group, has now confirmed the position former Gallagher Re government Theo Norris has taken on the agency, appointing him UK Capital Markets Structuring and Cyber ILS Chief.
As we reported back in July 2024, Norris was set to affix Lockton Re because the agency’s first Head of Cyber ILS.
Norris was beforehand the Head of Cyber Insurance coverage-Linked Securities at Gallagher Re and its capital market arm Gallagher Securities, a task he’d held for greater than two and a half years. Previous to which he’d labored at Aon Securities.
Norris had put appreciable effort into educating ILS buyers about cyber threat and on the structuring of cyber insurance-linked securities preparations and cyber cat bonds throughout his time at Gallagher.
Which bore fruit, as Gallagher Re structured and brokered various the earliest personal cyber ILS preparations after which the first private cyber cat bonds for Beazley, later additionally being the structuring agent and bookrunner for Beazley’s 144A PoleStar cyber cat bonds.
Now, having joined Lockton Re Capital Markets, the reinsurance brokers funding banking arm, Norris takes on the position of UK Capital Markets Structuring and Cyber ILS Chief.
He will probably be based mostly in London and work intently with Lockton Re’s international Broking and Cyber groups.
Zach Breslin, Head of Lockton Re Capital Markets, stated, “Theo is an skilled and extremely regarded skilled within the cyber and broader ILS area. He will probably be instrumental in advancing our capability to develop progressive risk-transfer and capital options to fulfill the evolving wants of our shoppers. Past his deep experience in cyber threat switch, Theo’s dynamic method is an ideal match for Lockton Re’s tradition, and we’re all excited to welcome him aboard.”
Robert Bisset, Chairman of World Retrocession & Property Specialty, Bermuda, and Market Capital, added, “That is an thrilling time for Lockton Re as we proceed to increase our capabilities to fulfill consumer and market calls for. Theo’s addition additional strengthens our Capital Markets and Cyber experience, and his wonderful market popularity will improve our place as we glance to the longer term. Following one other profitable 1/1 renewal, this can be a excellent second for Theo to affix as we put together for progress in 2025 and past.”
Learn all about the cyber catastrophe bonds that have hit the market so far.
