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EC News (12th April 2018)

April 12, 2018

Round-up of the weekly news and developments from the global (re)insurance market with stories from Sompo, Markel International, Neon and more.

Sompo hires Cove as head of aviation reinsurance

Sompo International has appointed Patrick Cove as global head of aviation reinsurance.

Most recently head of aviation & marine treaty reinsurance at Qatar Re, Cove boasts over 20 years of aviation treaty experience in London and Zurich markets.

In his new role, Cove will be responsible for airline hull and liability, aircraft manufacturers' products liability, and general aviation risks.

He will be based in the company’s Zurich office and report to Adrian Poxon, executive vice president and head of global specialty reinsurance.

Markel International restructures trade credit leadership

Markel International has reshuffled its trade credit, political risk and surety business, structuring the team to reflect the needs of its broker clients for global engagement across the three business lines.

In addition to his existing senior underwriter role, Adrian Jones adopts the role of head of strategic development for Asia and the Middle East.

Leroy Almeida has been appointed to head of the Middle East operation, which now includes marine and D&O product lines.

Abhishek Chhajer will continue to lead the trade credit operation in the Asia Pacific region.

Simon Moon takes on the role of head of risk underwriting and Carl Titterton as head of commercial underwriting for the trade credit operation.

Nicola Marriage becomes head of political risk with Damian Manning continuing as head of surety.

Philip Amlot assumes the role of head of trade credit and political risk, Americas.

Internationally, Arjan Van de Wall becomes global development director, responsible for giving brokers access to the team’s areas of expertise spanning all geographies and to drive global solutions for large multinational clients.

Ewa Rose, managing director of the division, said: “Since the launch of the business in 2010, we have expanded our geographic reach across the US, Canada, Singapore and Dubai in addition to the London presence and have added political risk and surety product lines to the trade credit operation. The new structure gives leadership responsibility to the separate business lines, while providing an overarching, multi-product business development role that can engage effectively with our brokers.”

Neon names Cooke as contingency underwriter

Neon has appointed Jeremy Cooke as its contingency underwriter, the Lloyd’s carrier has announced.

In his new role, Cooke will be responsible for establishing Neon’s name in the event cancellation market, an area previously written on an opportunistic basis.

Before joining Neon, Cooke most recently served as head of contingency at Barents Re and has previously held underwriting roles at the likes of ProSight Specialty Insurance and Chubb. He began his career at Hiscox.

Neon said it wants to build a refreshed proposition and portfolio offering, with continued progress being made across the business.

In the first quarter of this year, Neon launched the UK’s first ILS vehicle and expanded both its political and credit risk and M&A insurance teams.

Commenting on the appointment, chief underwriting officer (CUO) at Neon, Darren Lednor said: “We have made strong progress in consolidating our existing portfolio and this has given us an excellent platform from which to expand into new lines. Neon is a dynamic business and we are committed to attracting fresh, experienced talent as we continue to grow.”

“I am pleased to welcome Jeremy to Neon and look forward to him helping us establish a market-leading contingency offering.”

Beazley appoints Bergler as head of broker relations for Continental Europe

Beazley has appointed Andreas Bergler as head of broker relations for Continental Europe to support the company's expansion plans spanning the region.

In the newly designed role, Bergler will focus on building out Beazley's pan-European broker relationship network and distribution strategy.

He will report to head of broker relations UK & Europe, Will Roscoe.

Bergler joined Beazley in 2008 and has successfully led the treaty team in Munich as well as playing a major role in developing Beazley's presence in Germany.  He started his career at Munich Re prior to moving to New Re and then Aon Benfield.

Roscoe said: "European growth is a strategic priority for us, particularly for our international specialty lines business.  Andreas' appointment will allow us to develop new relationships with brokers and build on existing ones as we continue to expand our offering in the region." 

QBE makes changes to senior management

QBE Insurance has announced the appointment of Inder Singh as group CFO succeeding Michael Ford who is leaving the company.

QBE have also announced further changes to its senior management team with the appointments of Peter Grewal as group chief risk officer (CRO), Liam Buckley as group head of culture and talent, Matt Mansour as group chief information officer (CIO) and Anders Land as group head of internal audit.

Singh joined QBE in 2015 as group head of corporate development and was later appointed as group head of financial planning and analysis before taking on his most recent role of CFO in the Australian & New Zealand operations.

Prior to QBE, Singh was the group corporate development and M&A director for Aviva and before this he served as executive director, financial institutions group at UBS Investment Bank in London.

He boasts over 20 years’ experience in commercially-oriented roles in large multi-national financial institutions.

Grewal joins QBE from Swiss Re where he held the role of CRO, reinsurance since 2014 with a global remit covering property and casualty and life and health reinsurance.

Prior to this he held executive roles in internal audit including head of group internal audit for Swiss Re, head of internal audit for Scottish Re and head of audit for HSBC (Bank of Bermuda).

Both Singh and Grewal will be based in the company head office in Australia.

Commenting on the changes Pat Regan, group CEO said: “We have commenced an accelerated reshaping of the company’s strategic focus to create a stronger and simpler QBE. This includes a prioritisation of “Brilliant Basics” – improving underwriting quality, pricing and claims handling in every market in which we operate and every product we underwrite.”

“To deliver this plan we need a senior management team with deep insurance expertise and the capabilities required to build on QBE’s strengths and to deliver excellence across the Group consistently. I am confident that these appointments will assist significantly in delivering on our priorities in 2018 and beyond. The search for our new Group chief underwriting officer, a new Group Executive role, is progressing well.”

"I would like to congratulate Inder, Peter, Liam, Matt and Anders on their appointments and thank Michael for his time at QBE.”

LMG appoints Horton as new chair

The London Market Group (LMG) has appointed Andrew Horton, CEO of Beazley as its new chair effective from 4 May 2018.

Horton will succeed Nicolas Aubert, head of Great Britain for Willis Towers Watson who has held the role for two years.

Aubert commented: “The last two years have seen tremendous developments in our growth and modernisation agenda – with workstreams not only delivering tangible results against their objectives, but also leading the Market’s response with unexpected events such as Brexit. It has been a real privilege to work with so many colleagues across the market, all dedicated to maintaining London’s position as a global centre for re/insurance.

“Andrew’s work with London Makes It Possible gives him real insight into a core part of our programme, and his leadership of a highly successful London Market business will give valuable insight into what needs to be done to take all our workstreams into the next stage of development so they can meet the market’s future needs.”

Horton said: “Nicolas has led the LMG with tremendous enthusiasm and his energy and passion has driven forward an agenda that is both practical and has real ambition.

“The challenges facing our market are not diminishing, but I am excited that our sense of collective purpose and action is delivering genuine benefits and I very much look forward to working with all sectors of the market to grow and enhance London’s position and reputation.”