Treaty and retro specialists Peter Stubbings, Dan Bailey and Jerome Overbey are leaving McGill and Partners and are expected to join Miller in Bermuda at the end of their competitive restrictions, sources have told this publication.
All three will be based in Bermuda with a focus on building out Miller’s property treaty, retro and ILS capabilities.
It's understood they will work closely with Shaun Sinniah, head of reinsurance & capital at Miller, and Charlie Simpson, head of Miller Bermuda.
Stubbings held the title of Bermuda CEO at McGill. He joined the firm in 2023 after five years at Aon as Global ReSpecialty CEO, and a long tenure at Guy Carpenter including roles as Bermuda chairman and COO EMEA broking, according to his LinkedIn profile.
ILW broker and partner Bailey joined McGill’s treaty reinsurance team in 2020, and has held positions at Aon, JLT Re and Steadfast Re across his 35-year career.
Overbey joined McGill in Bermuda just over two years ago with a focus on securing placements for P&C treaty clients and ILWs.
Approached for comment, a spokesperson for McGill confirmed some changes had occurred in its treaty team. Kate Vacher, global head of treaty reinsurance, will resume the position of CEO Bermuda on a temporary basis, subject to regulatory approval, while continuing to oversee operations in her current role.
“Bermuda and treaty reinsurance both remain important parts of our growing global footprint,” the firm added.
The hires at Miller come after other treaty hires this year. The broker appointed former Scor CEO of P&C Solutions Vincent Foucart as a managing director of the team in March to support the firm’s reinsurance scale-up.
Miller declined to comment.