Pioneer Underwriting, a UK-based underwriting agency, has appointed David Carson to head its new property catastrophe (Cat) division, which will underwrite property catastrophe reinsurance.
Carson, who previously served as property treaty head for Hardy Underwriting, will start underwriting for Pioneer Cat from September 2013.
According to the company, the new division has already established strategic alliance with a range of investors mostly from the US.
Through the division, Pioneer wants to generate an income of £15m in 2013-2014.
Pioneer CEO Darren Doherty said this is an extremely exciting venture for Pioneer and the appointment of David Carson shows the calibre of industry professionals who are reallocating their business to them.
"Helping to establish a new business unit focusing on property catastrophe reinsurance underwriting and bringing together my long-standing trading relationships with the significant amounts of capital currently available around the world is a challenge that I am really looking forward to," Carson commented.
Pioneer’s new division will be based at Lloyd’s and in the company’s offices.