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Howden Re, the global reinsurance, capital markets and strategic advisory arm of Howden, announced that Rod Fox is stepping down as executive chairman and is leaving the business.

He is succeeded by Elliot Richardson, who steps into the role with 37 years of insurance experience, including a decade at Howden. Most recently, he was vice chair of Howden Re and chair of International, Howden Re. He joined the business in 2015 following Hyperion’s acquisition of RKH and has been instrumental in the growth of Howden’s reinsurance arm.

The news comes three years after of TigerRisk Partners LLP – the business that Fox co-founded in 2008. Fox had been executive chair since the deal was completed in January 2023. The acquisition created a fourth tier-one global reinsurance broker.

Richardson will continue to work alongside Tim Ronda, Howden Re’s chief executive, and Rob Bredahl, vice chair of Howden Re and chair, Howden Capital Markets & Advisory.

“We are grateful to Rod for his vision in establishing TigerRisk and his part in creating the outstanding business we have today. As we continue to build on our foundation of talent and a truly differentiated client offering, I am delighted that Elliot has taken on this role. I am grateful every day for his counsel and business acumen,” commented Tim Ronda, chief executive, Howden Re.

“I am enormously proud of what we have built at Howden Re and honored to be executive chair supporting Tim and all of our colleagues,” according to Richardson. “Our culture of collaboration, innovation, and investment in talent has enabled us to build a high-performance, high-delivery environment where colleagues are empowered, and clients are valued and served. I’m excited for the future.”

Howden Tiger was renamed Howden Re, effective April 8, 2024.

Howden Re said it has achieved significant growth over the past three years. In FY2024 it grew organic revenue by 30% to US$600 million and recorded US$18.5 billion of gross written premium. The business employs more than 1,000 professionals across 40 offices in 25 countries.

Source: Howden Re