CRC adds Aspen’s Bonds to lead exclusive property products

US wholesaler CRC Group has hired Alex Bonds from Aspen as chief programs officer for property programs in a role that will see the executive lead the development of the firm’s exclusive Insurisk brand’s property facility, The Insurer can reveal.

Bonds was most recently responsible for managing the property underwriting team in Aspen’s Atlanta office as a senior vice president.

He was at Aspen for just over four-and-a-half years, initially in an energy and construction underwriting role.

Before that he spent almost a decade at AIG, first in London before moving to the Houston, Texas area in senior energy underwriting roles, including as leader of the carrier’s North American oil and petrochemical segment.

Confirming the hire, CRC Group president and COO Neil Kessler said: “Alex has strong relationships, both internationally and domestically, and is recognized for his technical knowledge and background.

“We have a solid suite of Insurisk property products today, and bringing Alex onto the team will allow us to further build out our exclusive property capacity more quickly.”

The firm said that adding Bonds represents an increased investment by CRC Group into its Insurisk exclusive products strategy.

As previously reported, Insurisk is the name for CRC Group’s exclusive products and was launched in March 2019.

The wholesaler now offers 13 exclusive Insurisk branded products across property and a range of casualty and executive/professional lines of business.

Kessler said that the firm has a “robust pipeline” of new products coming to the market this year across property and other lines that will continue to bring value to its customers.

At the time of launching the Insurisk brand, CRC revealed that it had teamed up with then BB&T (now Truist) Insurance Holdings stablemate Amrisc to launch a new product called Cat+, as it also switched its existing alternative capital-backed quota share offering to Amrisc from Liberty as QSP+.

Both facilities were offered under the Insurisk umbrella.

Also in 2019 CRC added a non-cat quota share property offering written by Amrisc to its existing QSP+ and Cat+ Insurisk product.

Other property related exclusive facilities under the Insurisk brand include an active assailant offering, a stock throughput facility and a terrorism facility.

Casualty facilities include CP25 and PharmaNutra+, while there are also six professional lines facilities for a range of exposures including cyber, tech E&O, private company management liability and patent infringement.