Willis Re in Bermuda has hired former TigerRisk broker Andrew DiLoreto, re-Insurance.com can reveal.
DiLoreto has been at Tiger for seven years. After joining as a member of the US property treaty and retro team in 2011, the executive moved to Bermuda in 2015.
There, he helped build out the reinsurance broker’s retro business on the island, according to his LinkedIn profile.
“Non-Marine retrocessional responsibilities include the production and renewal of reinsurance, retrocessional and ILW business from Bermuda based insurance and reinsurance companies including Bermuda based hedge funds and ILS markets,” his profile said.
“Andrew is heavily involved in the structuring and pricing of retrocessional business managed by the Bermuda account team and has successfully aided in the creation, marketing, and placement of new retrocessional and reinsurance products,” it continued.
The executive joined Tiger from Bank of America Merrill Lynch in New York where he worked with US structured derivatives supporting insurance.
It is thought that DiLoreto’s seat in Tiger’s Bermuda office will be filled by Freddie Mead, who left the reinsurance broker’s London office for the island last week.
Mead has been at Tiger since 2014. He joined from Willis Re where he focused on US and global non-marine treaty.
Willis Re declined to comment.