International property treaty portfolio launched

Heritage Underwriting Agency announces the appointment of James Braddock as head of the new International Property Treaty portfolio. He joins the company today.

Braddock has 22 years experience in the insurance industry, 18 of which are specific to treaty reinsurance. Prior to joining Heritage, Braddock was at ascot Underwriting where he successfully developed a first tier regional account.

As part of the development strategy for syndicate 1200, Heritage said an International property treaty account will significantly enhance the stability and long term profitability of the syndicate’s portfolio.

The majority of the business written is expected to be catastrophe excess of loss; however, some complementary risk excess of loss will also be underwritten. The territorial focus of the book will be on the UK, Western Europe, Australasia, Canada and Japan but will exclude the United States and Caribbean to provide optimum fit with the existing business.

Nick Jones, Active Underwriter for Syndicate 1200, said: "I am delighted that James Braddock is joining Heritage to head International Property Treaty for Syndicate 1200. His impressive track record of results and strong relationships with overseas clients make him the ideal candidate to develop a presence in the treaty market for Heritage. Alongside the Personal Accident and Auto teams recruited in 2006, this new line of business will add a valuable and profitable diversification to the core property direct and facultative account."