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EC News (24 October 2019)

  • Publish Date: Posted over 4 years ago
  • Author:by Alan Jarque

Round-up of the weekly news and developments from the global (re)insurance market with stories from Fidelis, Markel, Swiss Re Corporate Solutions and more.

Fidelis adds Matthew Bellamy to its London underwriting team

Bermuda based holding company, Fidelis Insurance has announced the appointment of Matthew Bellamy to Fidelis Underwriting Limited’s London team (FUL), effective 1 November 2019.

He brings over 13 years’ experience and joins Fidelis from Lloyd’s Acapella Syndicate where he served as head of property treaty and deputy active underwriter. In his new role, Bellamy will look to further build on FUL’s property treaty reinsurance business.

Rich Coulson, FUL chief underwriting officer, commented: “FUL started writing property treaty reinsurance in 2017 and was successful in creating this opportunity outside of the Lloyd’s market. We look forward to having Matt join us to continue to grow our London book.”

Rich Holden, executive head of reinsurance, said: “This is the right time to continue to grow our London reinsurance pillar and am very pleased to have Matt join, bringing his industry knowledge and market relations to the team.”

Markel announces senior appointments across global strategy & national markets team

Specialist (re)insurer, Markel International has named Simon Wilson as managing executive of global strategy for insurance operations, Markel Corporation. Additionally, Henrik Bjornstad will assume the role of managing director of Markel International’s national markets division, effective 1 January 2020.

Wilson, who is based in Richmond Virginia, will be responsible for the global strategy teams in both Richmond and London, He will also remain on the Markel International Board.

He will report to Robert Cox, president and chief operating officer for insurance operations, Markel Corporation.

Meanwhile, Bjornstad will be based out of the London office and report into William Stovin, president of Markel International. He currently serves head of strategy for insurance operations, Markel Corporation.

Additionally, John Enright has been appointed head of strategy for Markel International, assuming responsibility of the strategy team based in London, reporting to Wilson.

Commenting on the appointments, Stovin said: “Simon has excelled in every role he has taken on since joining Markel in 2010. Under his management over the last five years, the national markets division has become a fast-growing and profitable multi-national enterprise and so we look forward to seeing his achievements in this new global role, with John on the ground in London, to support.”

“Henrik has done an outstanding job of setting up and developing an invaluable strategy function for Markel and we’ve no doubt that with his new focus on national markets the division will continue to grow.”

Bellamy added: “I am excited to join Fidelis and continue to build on Fidelis’ success by further expanding its property treaty reinsurance book in London, complementing Fidelis’ portfolio across the group.”

Swiss Re Corporate Solutions & Brokerslink collaborate with new platform

Swiss Re Corporate Solutions the commercial insurance arm of Swiss Re Group have announced a strategic agreement to develop a dedicated international insurance programme management platform for the global broking business Brokerslink network.

The new platform will be designed by Swiss Re Corporate Solutions for Brokerslink’s international portfolio and will ultimately enable broker partners and affiliates to manage and deliver structured and compliant international and cross-border programmes from a single online platform.

Andreas Berger, CEO Swiss Re Corporate Solutions, said: "We're excited to announce this solution, which uses key functionality from our comprehensive international programme platform, for Brokerslink partners and affiliates. This agreement signals our joint desire to use technology to reshape the industry, increase efficiency in international programme delivery and improve the service experience for our mutual corporate customers."

José Manuel Fonseca, Brokerslink chairman, said: “This strategic collaboration will provide our brokers with a cutting-edge solution that directly enhances their competitive advantage and appetite to service all their cross-border and multinational insurance programmes to their clients. Swiss Re Corporate Solutions has advanced technological capabilities for international programmes and we have a unique global structure as a distribution partner. We are excited to be the first broker to collaborate with them on such an important tool which will enhance our working relationship.”

BHSI hires 3 product line leaders in Madrid

Berkshire Hathaway Specialty Insurance (BHSI) has announced three key leadership appointments in Madrid. Diego Espinosa as head of property, Juan Madrid as head of casualty and Tomás Blas as head of technical lines.

Espinosa brings more than a decade of experience and joins from RSA Spain where he most recently served as property development leader/property lead underwriter.

Madrid most recently held the role of liabilities manager at Chubb Iberia and brings more than 35 years of industry experience. Prior to that, he spent 14 years in casualty underwriting at AIG Europe Ltd.

Additionally, Blas joins with 15 years’ experience, most recently serving as regional head of engineering lines, Mediterranean Region at Allianz Global Corporate & Specialty (AGCS). Before that, he was head of engineering lines for Spain & Portugal and global practice group leader of Utilities, Services, IT & Communications at AGCS.

Ignacio Almazan, country manager, Spain, BHSI, said: “We are pleased to build out our leadership team and capabilities in Spain with the addition of these highly experienced professionals to lead our entry into property, casualty and technical lines,”

Adding: “We look forward to continuing to expand our capabilities and to bring BHSI’s underwriting acumen, service excellence and financial strength to this thriving market.”

Castel Specialty enters construction & engineering market

Castel Specialty, a division of club-style MGA formation platform Castel Underwriting Agencies Limited, has entered the construction and engineering market predominantly aimed at the UK, North American, Australia and Canada.

Colin Rose has been appointed to head up the new offering, joining Castel from Beazley. He most recently served as head of construction and engineering at the insurer and brings over 30 years’ worldwide underwriting experience.

Castel says, the initial focus will be on small to medium scale projects and annual business, particularly related to general buildings, power generation, oil and gas, manufacturing and heavy industries.

Mark Birrell, chief executive of Castel, said: “Colin’s ability to produce profitable results despite the previous prevailing soft market conditions made him a standout choice as we enter this new market. He has a strong reputation as a lead underwriter and with treaty reinsurers. We are very confident that he will be able to build on his ability to grow a profitable book of business with Castel.”

Rose said: “Terms and conditions in the construction and engineering market have improved and will continue to do so as prior years deteriorate. Significant losses over recent years combined with a softening construction insurance market globally for over 10 years have led to the improving conditions for carriers; it’s a good time to be entering the market.”

Gard names Christian Pritchard-Davies as chief financial officer

Gard, the Norwegian shipowner-controlled provider of P&I, marine and energy insurance products appoints Christian Pritchard-Davies as chief financial officer, effective 1 January 2020.

Pritchard-Davies currently serves as vice president – head of infrastructure & operations at Gard. He joined the business in 2014 from Skretting Group in Stavanger, Norway where he served as a senior business controller.

Rolf Thore Roppestad, chief executive, said “I am pleased that we have been able to fill this strategically important role from within Gard. Christian offers us a strong combination of in-depth financial understanding and strategic insight about the group’s structure, operational needs and the future challenges,

Over the last several years, Christian has been deeply involved in a number of key projects for the group and has demonstrated his capabilities in tackling key issues and thinking strategically. There is no doubt that as the marine insurance industry continues to develop and evolve, these skills will be of tremendous value to the group.”