A data-driven, solutions-oriented, global specialty underwriter.
Banyan's roots are firmly grounded in experience. We’re expanding our reach and laying new roots in various geographies, industries, and product offerings, providing adaptability, and even more opportunities for growth.
ABOUT US
OUR APPROACH
CREATIVITY
At Banyan Risk, we foster a unique and fresh approach to underwriting in that we embrace complex risks. We are creative and solutions-oriented, whilst also being grounded in, and respectful of, traditional underwriting practices.
EFFICIENCY
We are hyper-focused on efficiency. Being data-rich & tech-enabled allows us to deliver a best in class experience. We’re empowering decisions with data-driven insights, offering a more informed journey for our clients. We are nimble, agile & responsive – we are YOUR problem-solvers that adapt quickly to any specialty insurance need.
PARTNERSHIP
We pride ourselves on partnering with the best and building strong relationships. We are experts in our field, thoughtful and dedicated in our approach, ensuring our client’s needs are met – swiftly, efficiently and creatively.
OUR STORY
Launched by co-Chief Executive Officers’ Tim Usher-Jones and Peter Horrobin, Banyan set down roots in Bermuda in 2021, bringing with them over 20 years of industry experience, lasting industry relationships, and their notable reputations.
Our mission upon Banyan’s inception remains the same as it is today – to be a global leader in underwriting complex risk in global specialty markets . Our lean team of industry experts are constantly working to improve upon the status quo as we continue to support businesses in areas where bespoke risks continue to evolve.
Six months after launch, Banyan executed on its global growth strategy with the launch of its first international subsidiary in Canada in December 2021. Tasked with licensing and building out the new Canadian business, Michael Densham stepped up to the plate, lending 17 years worth of experience in management and professional liability insurance markets.
Banyan remains a lean team of experienced professionals with a company ethos centered on being nimble, effective, and solutions-oriented.
MILESTONES
-
Opened in BDA
July 2021 -
Bound first D&O Policy
August 2021 -
Opened in CAD
January 2022 -
Hired Chief Technology Advisor
May 2022 -
Expands into Transactional Liability
February 2023 -
Bound First Transactional Liability policy
March 2023 -
Hired CUO
July 2023 -
$100M of Gross Written Premium Inception to date
August 2023
LEADERSHIP
Fake
Founder and Chief Executive Officer
Tim started his insurance career at Chubb Insurance Company of Canada in 2005. He worked his way up through the ranks from Underwriter to Senior Vice President, where he led a team of over 30 employees and managed a profitable book of Specialty Insurance, including D&O, Employment Practice Liability, Fiduciary, Fidelity, Errors and Omissions, Surety, Transactional Risk and Trade Credit.
Founder and Chief Executive Officer
Peter started his underwriting career at Chubb Insurance Company of Canada in 2006. He moved to Bermuda in 2012 with Chubb Atlantic Indemnity Limited, becoming the Managing Director overseeing the management liability and excess casualty portfolio. In 2017, he started up Ascot Group’s management and professional lines operation in Bermuda, building a niche portfolio of specialized business.
President, Banyan Risk Services Ltd (Canada)
Michael began his insurance career at Chubb Insurance Company of Canada in 2004 as an Executive Lines Underwriter. In 2006, he became the Manager of Chubb Specialty Insurance (CSI) in Vancouver. As a Vice President, he drove profitable growth in the Private Company and ChubbPro segments. While also overseeing the operational team. In late 2014, he joined Berkshire Hathaway Specialty Insurance, where he built the Executive and Professional lines team and portfolio in Canada.
Chief Underwriting Officer
Ben started his insurance career at Chubb Insurance Company of Canada in 1999. In 2004, Ben moved to Bermuda to join AIG where he successfully led the AIG Cat Excess division’s global Financial Institutions practice through the financial crisis. In 2012, Ben joined Alterra Bermuda Ltd. (later acquired by Markel Corp.) as SVP, overseeing the firm’s Financial Institutions, D&O and Cyber businesses. In 2018, Ben left Bermuda to found and lead Briza, Inc., a software firm focused on enabling digital connections between insurers, distributors and customers, as CEO.
Operations Leader
Beth is a seasoned professional in the insurance industry, boasting an impressive 19 years of experience. She has played a key role in developing and refining underwriting processes across various lines of coverage, ensuring efficient and accurate risk assessment. Beth has also demonstrated her proficiency in technology implementation, successfully spearheading the integration of third-party back-to-office software and support. Known for her unwavering commitment to excellence, Beth consistently delivers the highest standards of product service in the industry, earning a reputation for her exceptional customer satisfaction and attention to detail.
Board Member (SVP, Underwriter, SiriusPoint Bermuda Insurance Company Ltd.)
Amanda joined Third Point Reinsurance Company Ltd. in 2013, leading actuarial pricing before transitioning to Casualty and Specialty underwriting at SiriusPoint. With over 24 years of experience in reinsurance, insurance, and consulting, she served as Vice President, Pricing at Tokio Millennium Re Bermuda from 2010-2013. She also held actuarial roles at E&Y, Hannover Re, and CNA Re. Amanda is a Fellow of the Casualty Actuarial Society, holding degrees from Purdue University and the University of Denver.
Board Member (Global Head of P&C Insurance & Services, SiriusPoint)
Patrick is the Global Head of Property and Casualty (P&C) Insurance & Services at SiriusPoint Ltd. He joined in September 2021 as Head of Americas P&C Insurance, responsible for managing and expanding the US P&C insurance business. Patrick drives strategic partnerships, product development, global strategy execution, and financial commitments for P&C insurance. With 20+ years of industry experience, including leadership roles at Zurich Insurance Group, he is a Fellow of the Casualty Actuarial Society with a BBA in Actuarial Science from the University of Wisconsin-Madison.
PRODUCTS
Directors & Officers
Transactional Liability
FINANCIAL STRENGTH
Banyan Risk is registered as an Insurance Agent, underwriting direct insurance under the Insurance Act 1978. SiriusPoint is a top 20 global insurer and reinsurer providing solutions to clients and brokers in almost 150 countries. Bermuda-headquartered with offices around the world, they are listed on the New York Stock Exchange (SPNT). With over $3 billion total in capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P, and Fitch. SiriusPoint recently highlighted Banyan as one of their most strategic partnerships as part of their Fiscal 2022 Annual Report.
Sirius Point
$3B+ Total Capital
A- Rating
LOCATIONS
NOW COVERING THE WORLD FROM OUR OFFICES IN BERMUDA AND CANADA
CONTACT US
WE'RE HERE FOR YOU
CLAIMS
Banyan Risk Ltd.’s. network of globally recognized adjusters and litigators are deeply experienced with the most complex claims and can service policyholders in any time zone. Banyan strives to acknowledge receipt of all claims within 24 hours.
To submit a claim, please refer to the specific notice procedures described in your individual Banyan Risk LTD. Policy.
For general claims inquiries, you may contact [email protected]
