United Risk, a subsidiary of Applied Underwriters, announced it has formed a multi-line reinsurance managing general agent.
Jay Cahill, previously United Risk’s chief financial officer, has been named chief executive officer of the new MGA. He will be succeeded as CFO by Alex Amezquita, the former CFO of Herbalife.
The MGA will be underwriting select placements in property/casualty, cyber, and credit risk for the mid-year renewals and will have opened fully operational offices in New York, London and Bermuda in time for the January 2026 renewals.
Prior to joining United Risk as CFO in May 2024, Cahill served as managing director, Awbury, from 2021 to 2024, responsible for ceded reinsurance and third-party capital, specialty, professional lines, property retro underwriting and new business development. Prior to that he was global head of credit and financial lines at RenaissanceRe.
“As the reinsurance market hardens, like our continuing and successful E&S strategy, when it makes sense, we will focus on offering reinsurance rather than insurance. This is a plan that Jay Cahill is uniquely qualified to execute,” commented Jamie Sahara, president, Applied Underwriters in a statement.
“The hard reinsurance market poses challenges together with great opportunities for those with the right resources and a staff with ease and facility in deploying them. This will be the advantage our growing of the United Risk team will deliver,” Cahill said.
Amezquita joins United Risk as CFO after having served as CFO of Herbalife. Also during his career, he was senior vice president at the global investment bank Moelis & Company and a principal at Centerview Partners, a boutique investment bank.
United Risk was launched by Applied Underwriters in November 2023 to bring together the company’s MGA and MGU businesses under a single brand.
About United Risk Global and Applied Underwriters
New York City-based United Risk Global is an international property/casualty insurance underwriting and distribution platform independently owned and operated by its practice partners and affiliated with Applied Underwriters operationally. Applied Underwriters operates widely throughout the US, UK, EU and Middle East. Its operational headquarters is located in Omaha, Nebraska.
Source: Applied Underwriters
Topics
Reinsurance
Insurance Wholesale
Interested in Insurance Wholesale?
Get automatic alerts for this topic.
