Former CNA Re Exec Launches DirectFac

Rory A. Cline, former executive vice president of facultative reinsurance at CNA Reinsurance, has launched DirectFac Inc., a new independent property facultative agency that aims to provide insurers direct access to syndicated products.

“Our goal is to provide clients value-added reinsurance capacity on a direct basis,” Cline said in a statement. “As many of my clients know, I have been involved with and passionate about this market segment for many years and pleased to have attracted talented underwriters who share the same belief in the value of this type of operation.”

The company aims to “provide significant capacity, underwriting expertise and timely response to client submissions utilizing their proprietary state-of-the-art technology,” according to a statement.

The company will be based in six locations across the country with its headquarters in Chicago.