Global reinsurance intermediary Beach and Associates Ltd. announced Monday it has formed Beach Capital Holding Ltd. (BCHL), a new Canada-based company focused on more business development and growth.
According to the company, BCHL will have the following objectives:
- to provide strategic guidance and financing to all members of the Beach Group;
- to assist with the development of new initiatives in its core reinsurance intermediary business;
- to assist with the development of new initiatives ancillary to its core reinsurance intermediary operations; and,
- most importantly, to work with the members of the Beach Group to continue attracting the best people around the world to its growing operations.
The company has proposed the appointments of Jonathan Beach as chairman and Grahame Millwater as president and CEO for the new entity, effective Jan. 1.
Millwater will join BCHL after 26 years at the Willis Group, where he held various roles throughout his time there, including chairman and CEO of Willis Re, COO and president.
In those roles, he had responsibility for revenue development, insurance and reinsurance company relationships, major accounts and analytics and advisory development, in the Reinsurance, Global Specialty, Global Markets and Global Major Accounts operations. Millwater will be based out of Beach Group’s London offices.
“The shareholders and principals of Beach Capital Holdings are thrilled to welcome an executive of Grahame's stature and experience to our team,” Jonathan Beach, the chairman and controlling shareholder of Beach Capital Holdings Limited and founder of Beach and Associates Limited, noted in a statement.
“We believe we have been very successful in the development of a unique and independent global platform that has met the needs of our specialty insurance company clients since our founding in 1988. But the reality is that in order to continue meeting those needs, while being committed to our continued independence, the Beach Group must continue to expand its contacts, resources and specialty expertise. Grahame, with his unrivalled global experience within our industry, is uniquely suited to continue this development.”