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EC News (26 March 2020)

March 26, 2020

Round-up of the weekly news and developments from the global (re)insurance market with stories from Chaucer, AXA UK & Ireland, Swiss Re and more.

Chaucer expands International General Liability team with new hire

Specialty international (re)insurance group, Chaucer named Ana Blanco as class underwriter to support development of its International General Liability account.

In her new role, she will work closely with Thomas Beasley and Rob Neil who joined the business at the end of 2019.

Chaucer said the appointment supports the firm’s commitment to delivering an outstanding underwriting service and building long-term and mutually beneficial business partnerships with brokers and MGAs in Lloyd’s and the company market.

Blanco brings almost a decade of market experience and joins Chaucer from QBE. Prior to this she was a broker at Guy Carpenter.

Paul Restarick, casualty and political risks manager, at Chaucer said: “I am delighted to welcome Ana to Chaucer. Her appointment enhances our international general liability capabilities and highlights our continuing commitment to in-depth underwriting expertise and excellent client service to brokers and clients.”

Nicola Stacey, chief underwriting officer, said: “Our Casualty Division combines a smart solutions-driven underwriting approach with responsive service to meet the needs of brokers and MGAs, and the recruitment of Ana is an integral part of delivering this.”

AXA UK & Ireland appoints Roland Moquet as chief financial officer

AXA UK and Ireland announced the appointment of Roland Moquet as new chief financial officer (CFO), succeeding Amelie Breitburd who is departing the insurer after almost 16 years.

Moquet joins from Italy having served as CFO for AXA. Since joining from the French Treasury in 2005, he has held multiple positions, including CFO of AXA Tianping in Shanghai.

Wilkinson’s roles within AXA have included finance director at AXA PPP Healthcare and head of M&A for AXA UK.

Meanwhile, Amber Wilkinson who is currently chief of staff has been promoted to the management committee in the role of director of strategy, brand and communications.

Claudio Gienal, chief executive officer, AXA UK and Ireland said: “I am delighted that Amber and Roland are joining the AXA UK and Ireland Management Committee,”

“Amber led our successful Beyond 2020 strategic review last year and will continue to oversee Strategy as well as Brand and Communications as an important part of the Management Committee.

“I am also pleased to welcome Roland, who will bring operational experience and strategic thinking to his new role.

“I would like to take this opportunity to thank Amelie Breitburd for all her support, not just at AXA UK and Ireland but across her many years in the Group. I wish her every success in the future.”

Swiss Re names head of Western and Southern Europe

Swiss Re named Nikhil da Victoria Lobo as market executive for Western and Southern Europe (WSE) for reinsurance, effective 1 July 2020.

Victoria Lobo succeeds Claudia Cordioli who was appointed as Swiss Re’s chief financial officer (CFO) of the reinsurance business at the start of March 2020.

In his new role, he will be based in Zurich and will report to Urs Baertschi, chief executive officer (CEO) Reinsurance EMEA, Swiss Re.

He brings almost 20 years (re)insurance industry experience to the role, having started his career at Swiss Re’s Securitas Capital in 2001, before serving as an underwriter in the Latin America Facultative Property team.

In 2008, he joined Swiss Re’s PSS Division as one of its first client managers, and since then, he has initiated and developed relationships with senior government and business leaders in numerous countries, including the U.S., Canada, and Latin America.

Commenting on the appointment, Baertschi said: “In Nikhil we found a very strong internal successor for the WSE Market Executive role. Nikhil’s international outlook, languages and excellent client relationship skills make him the natural choice as the Head of our Western and Southern European markets.”

LIIBA names Aon’s Richard Dudley as new chair

The London and International Insurance Brokers’ Association (LIIBA) appointed Richard Dudley, CEO of Aon’s Global Broking Centre to serve as its new chair.

Dudley succeeds Roy White from Marsh, who served for a two-year term and will remain deputy chair in the short term. His other deputies have been confirmed as Nick Cook of BMS and Alastair Swift of Willis Towers Watson.

Dudley said: “I’m proud to be taking on this role on behalf of the Lloyd’s broking community. Our immediate challenge is to provide support to our members and their clients as we face the coronavirus.  LIIBA and its members are determined to provide as close to normal service as we can while keeping to the Prime Minister’s request that we work from home where possible.  We have much to do.  With Brexit still very much a live issue and the Future@Lloyd’s pushing ahead, this is an important time for brokers to make their voices heard.

“I want to extend my thanks to Roy White for his work over the last two years. Roy has been at the helm during a particularly active period, with the FCA’s wholesale broking review taking place on his watch. The board and I are grateful for his support and insight.

“2020 will be a significant year for brokers as we work closely with government to identify ways in which we can liberalise trade and explore new markets around the world. Inclusivity in the workplace is also high on the agenda and something we’ll be addressing through the training and awareness programmes offered by LIIBA. And market modernisation, of course, remains a central and critical pillar of our work.

“After the devastating floods seen in the UK this winter, climate change is also something that’s occupying much of our members’ time and energy. Insurance has a central role to play in both addressing the causes of climate change and helping communities and businesses recover from its near-term effects. We’ll be enthusiastic contributors to the debates being facilitated by EIOPA and OECD.”

Sompo International names new CEO of global reinsurance

Sompo International Holdings, a Bermuda based specialty provider of property and casualty (re)insurance have named Christopher Donelan as its new CEO of global reinsurance.

He succeeds Stephen Young, who has resigned from the company after 17 years to pursue other interests.

Donelan will report to Christopher Gallagher, chief executive of commercial P&C. He will also join Sompo International’s commercial P&C executive team.

Prior to his promotion, Donelan was Sompo International’s deputy chief executive of global reinsurance, chairman of North America reinsurance and chief underwriting officer of global casualty reinsurance.

He joined the company in 2013 and has over 30 years market experience, holding senior leadership roles in reinsurance with major P&C companies.

Gallagher commented: “Donelan’s extensive industry experience, strong relationships with our major clients, distribution partners and employees, historical knowledge of our company combined with a proven track record of building profitable and meaningful reinsurance portfolios qualifies him as the ideal executive to lead our reinsurance business.”

Donelan added: “Emerging from all the current market turmoil, I am convinced we have the opportunity to substantially increase the profile of our reinsurance platform to become an even more relevant and strategic, global partner for our cedants and broker partners.

Fiona park named multinational practice leader at Marsh

Global insurance broker Marsh announced the appointment of Fiona Park as its multinational practice leader for Scotland within its UK corporate division.

Based in Glasgow, Park will lead a team which brings together expertise across Marsh’s Corporate offices in Aberdeen, Edinburgh, and Glasgow, and the business’s global network.

Park will report to Allan McPherson, regional managing director for Scotland and the North of England, UK corporate division, Marsh.

Park has worked at Marsh for almost 3 decades and spent the last 15 years delivering risk and insurance advice to Scottish firms across all industry sectors with operations overseas, as well as multinationals investing in Scotland and the wider UK.

Park said: “The Multinational Practice in Scotland draws on Marsh’s global insight to help clients manage the risks they face, wherever they choose to do business in the world. I’m excited to be playing such a key role in the development of our clients’ operations – and the economies – both at home and overseas.”

McPherson added: “Our multinational clients are increasingly exposed to a complex patchwork of insurance marketplace and regulations, each with their own rules and customs. With Fiona’s extensive experience, the team is well-placed to provide clients with industry-leading advice on multinational insurance programmes as well as local solutions.”