By David Bull

April 11 - (The Insurer) - United Risk has named Jay Cahill CEO of its newly formed reinsurance division as it prepares to launch an MGA in the segment.

The new MGA will begin underwriting selectively at mid-year renewals from offices in New York, London and Bermuda ahead of the key January 1, 2026 renewal date.

It is expected to write on the AM Best A-minus rated paper of carrier subsidiaries of United Risk’s parent Applied Underwriters.

In a statement to Program Manager confirming the launch, the Applied Underwriters-owned platform said it has also appointed former Herbalife CFO Alex Amezquita as CFO of United Risk, taking over the role from Cahill.

It said Cahill’s focus will now shift to the organisation of the new multi-line reinsurance MGA, which will aim to serve brokers, cedants and other clients in property, casualty, cyber and credit risk areas, underwriting select placements for June, July and October 2025 renewals.

Applied Underwriters president Jamie Sahara said: “As the reinsurance market hardens, like our continuing and successful E&S strategy, when it makes sense, we will focus on offering reinsurance rather than insurance. That is a plan that Jay Cahill is uniquely qualified to execute.”

Cahill joined United Risk as CFO last year from Awbury, where he was responsible for ceded reinsurance and third-party capital, as well as specialty, professional lines and property retro underwriting.

He was previously global head of credit and financial lines at Bermudian reinsurer RenaissanceRe.

Cahill said: “The hard reinsurance market poses challenges together with great opportunities for those with the right resources and a staff with ease and facility in deploying them. This will be the advantage our growing of the United Risk team will deliver."

Commenting on the CFO appointment, Sahara added: “In Alex Amezquita we have a dynamic, driven financial leader with the serious hands-on experience of running complex businesses, from M&A to managing a global company.”

Amezquita spent close to seven years as CFO of publicly traded Herbalife and is a former senior vice president at Moelis & Company, with investment banking and M&A advisory experience as a principal at Centerview Partners.

United Risk houses the multi-billion dollar MGA and MGU business that Applied Underwriters has been actively building out with the recruitment of high-profile underwriting executives, largely from insurance carriers in the US and internationally.

The platform describes itself as the global choice for apex insurance entrepreneurs, adding that it is independently owned and operated by its practice partners and is affiliated with Applied Underwriters operationally.

It has access to affiliated insurance and reinsurance capacity, as well as resources in areas like brand communications, government affairs, public relations, investigations, cyber security, artificial intelligence and software development.

Last month Program Manager reported that United Risk and its CEO Dan Malloy were parting ways less than 18 months after he was brought in to lead the business.