Martin Stephenson is joining JLT Re, the 4th largest reinsurance broker in the world.
He will have to wrap up “existing contractual obligations” before formally starting there, according to a company press release.
JLT Re is active in the catastrophe bond world, with its unit Jardine Lloyd Thompson Capital Markets acting as an arranger of deals.
Stephenson will join the marine and energy division of the firm.
He will report to Nick Jay, the division head.
Stephenson was formerly a managing director in the joint reinsurance business of the brokers Cooper Gay & Co. and Newman Martin and Buchanan.
He joined NMB in 1990, holding several positions before that of MD.
JLT Re has 700 professionals across 13 countries, according to the company website.