Allied World ceded re executive McBride exits one year after Sandvik retirement
Allied World ceded re executive Patrick McBride has resigned from his role after just under a decade at the firm, and a year after the insurer’s former ceded re head Greg Sandvik retired, The Insurer can reveal.
Details on McBride’s next role could not immediately be confirmed, though some have speculated the executive is joining a broker.
Prior to spending the last decade at Allied World, McBride spent nearly five years with XL Group in a ceded re role, after six years with Travelers where he served as a financial analyst.
Sandvik spent a dozen years with Allied World before retiring in the last year, after a five-year stint with Benfield/Aon Benfield and a 20-year career at Guy Carpenter.
Mark Pomeroy from Axis replaced Sandvik a year ago after four years at Axis, a year at Argo, six years at Assurant and five years as a treaty underwriter at American Safety Re.
Among the major programs Allied World places into the market are its$2bn-plus premium professional liability treaty placed in the spring.
Allied World’s ceded re team also includes Bermuda-based John Shinnick, who has been with the (re)insurer for a decade following stints at AIG and Guy Carpenter.
McBride’s exit comes as cedents, brokers, and reinsurers alike gear up for a busy 1 January renewal season, with industry CEOs set to descend on Monte Carlo for the 66th annual Rendez-Vous de Septembre this upcoming weekend.
At The Insurer’s Pre-Monte Carlo Forum in London this morning ahead of the Monte Carlo event, Ark CEO Ian Beaton called on underwriters to maintain discipline in the face of pressure from brokers to push harder on pricing.
Meanwhile, Howden Group CEO and co-founder David Howden warned the dramatic shift in cat loss burden away from global reinsurers to its clients which began in 2023 may result in the sector losing its relevance.
In addition, Arch Worldwide Reinsurance Group CEO Maamoun Rajeh warned that the industry is still not reserving sufficiently for casualty exposures as he addressed.
A spokesperson for Allied World declined to comment.