Rance to lead Miller’s reinsurance broking strategy and innovation

Miller has announced two new appointments to its reinsurance practice, with Steven Rance joining as head of reinsurance strategy and innovation.

Rance (pictured) joins from Price Forbes Re, where he led its specialty division, and brings more than 35 years’ experience in the global financial services arena.

This includes six years as a managing partner at rival broker Gallagher Re, which he joined in 2017, then Capsicum Re, to establish and lead its global mortgage risk reinsurance division.

Rance is joined by Charlotte Lowe who moves to Miller as a reinsurance broking account handler, joining from rival Price Forbes Re.

She brings experience across housebuilders and captives, also previously working for Gallagher Re.

Miller emphasised that it has made several senior reinsurance appointments over the past two years – with Rance the latest – across London, Bermuda and Asia Pacific (APAC), including the buildout of a dedicated (APAC) treaty reinsurance team.

With particular specialisms in credit-risk related services such as portfolio structuring, insurance and regulatory capital relief (SRT) generation, he has held a number of senior roles across mortgage and credit risk insuring, broking and consulting – working with banking, lending, house-builder and government clients across the US, Europe, Asia, Africa & South America.

In 2012, he developed the UK’s first government-backed mortgage insurance scheme, called NewBuy, reaching over 80% of UK mortgage lenders and more than 100 housebuilders. His experience from NewBuy led directly to his creation and delivery of Deposit Unlock, a nationwide mortgage insurance scheme for over 90 UK housebuilders.

In his new Miller role, Rance will report to Shaun Sinniah, head of reinsurance and capital.

Sinniah said: “We’re delighted to welcome Steven and Charlotte to the team as we continue to deliver on our reinsurance growth ambitions and further bolster Miller’s market-leading specialty offerings.

“In his newly created role, Steven will be at the forefront of this growth, where his deep market expertise and impressive record of innovation will prove invaluable.

“With experienced hires such as these, we will continue to develop our offering at pace, becoming the long-term, trusted and bespoke advisor that our clients are seeking.”

Rance added: “This is an extremely exciting time to be joining Miller as it continues to expand its reinsurance proposition and adapt to clients’ growing and evolving needs.

“My track record of delivering unique solutions for long-term client programmes dovetails perfectly with Miller’s culture and customer service ethos. For Charlotte and I, the team’s reputation as a platform for innovation and its commitment to client service excellence were huge draws, and we’re delighted to be getting started,” he added.