Lockton Re, the reinsurance arm of the independent broking group, has now confirmed the role former Gallagher Re executive Theo Norris has taken at the firm, appointing him UK Capital Markets Structuring and Cyber ILS Leader.As we , Norris was set to join Lockton Re as the firm’s first Head of Cyber ILS.Norris was previously the Head of Cyber Insurance-Linked Securities at Gallagher Re and its capital market arm Gallagher Securities, a role he’d held for more than two and a half years.Prior to which he’d worked at Aon Securities.

Norris had put considerable effort into educating ILS investors about cyber risk and on the structuring of cyber insurance-linked securities arrangements and cyber cat bonds during his time at Gallagher.Which bore fruit, as Gallagher Re structured and brokered a number of the earliest private cyber ILS arrangements and then , later also being the structuring agent and bookrunner for Beazley’s 144A PoleStar cyber cat bonds.Now, having joined Lockton Re Capital Markets, the reinsurance brokers investment banking arm, Norris takes on the role of UK Capital Markets Structuring and Cyber ILS Leader.

He will be based in London and work closely with Lockton Re’s global Broking and Cyber teams.Zach Breslin, Head of Lockton Re Capital Markets, said, “Theo is an experienced and highly regarded professional in the cyber and broader ILS space.He will be instrumental in advancing our ability to develop innovative risk-transfer and capital solutions to meet the evolving needs of our clients.

Beyond his deep expertise in cyber risk transfer, Theo’s dynamic approach is a perfect fit for Lockton Re’s culture, and we are all excited to welcome him aboard.” Robert Bisset, Chairman of Global Retrocession & Property Specialty, Bermuda, and Market Capital, added, “This is an exciting time for Lockton Re as we continue to expand our capabilities to meet client and market demands.Theo’s addition further strengthens our Capital Markets and Cyber expertise, and his excellent market reputation will enhance our position as we look to the future.Following another successful 1/1 renewal, this is a perfect moment for Theo to join as we prepare for growth in 2025 and beyond.” ..

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