United Risk, part of Applied Underwriters, has announced the launch of a new multi-line reinsurance managing general agent (MGA). This new entity aims to provide specialized underwriting services in property/casualty, cyber, and credit risk. Jay Cahill, who previously served as the chief financial officer of United Risk, has been appointed as the CEO of the new MGA. He will be succeeded in his former role by Alex Amezquita, who has a background as the CFO of Herbalife.
The MGA is set to be fully operational with offices in New York, London, and Bermuda by January 2026, just in time for the mid-year renewals in the reinsurance market. This strategic move comes as the reinsurance industry is experiencing a hardening market, which presents both challenges and opportunities.
Cahill brings significant experience to his new role. Before joining United Risk, he was managing director at Awbury, where he focused on reinsurance and business development. His background also includes a position as global head of credit and financial lines at RenaissanceRe. Cahill expressed optimism about the new MGA’s potential, stating that it will leverage the right resources and a skilled team to capitalize on the current market conditions.
Amezquita, stepping into the CFO role, has a strong financial background. He has held senior positions at Moelis & Company and Centerview Partners, both notable investment banks. His experience will likely contribute to the MGA’s financial strategy and operations.
United Risk was launched in November 2023 to consolidate Applied Underwriters’ MGA and MGU businesses under one brand. The company is based in New York City and operates internationally, with a presence in the US, UK, EU, and Middle East. Its main operational headquarters is located in Omaha, Nebraska.
As the reinsurance landscape evolves, United Risk aims to position itself as a key player, focusing on reinsurance offerings rather than traditional insurance, which reflects a broader trend in the industry.