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EC News (18 June 2020)

June 18, 2020

Round-up of the weekly news and developments from the global (re)insurance market with stories from AXA XL, Hiscox, Everest insurance and more.

AXA XL announces key changes to its broker management team

AXA XL has expanded its broker management team in the UK announcing the appointments of Michael Clarke as regional broker distribution leader and Robyn Warke as broker distribution leader.

In his new role, Clarke will be responsible for leading AXA XL’s regional distribution strategy, with the aim of developing relationships with UK regional brokers and profitably growing the UK book of business. 

Based in Birmingham, Clarke joins from Willis Towers Watson, where he managed a number of the broker’s strategic relationships with its key insurer partners. Prior to that, he served as a lead consultant/ engagement manager at AON.

Based in London, Warke joins the business from Generali, where she most recently served as key account executive, where she managed key broker relationships in the UK across all lines of business. Previously Warke had undertaken business development and claims roles at ERS Insurance and Catalyst Consulting.

Both Clarke and Warke report to Allan Murley, head of UK Broker Management at AXA XL.

Commenting on the appointments Murley said: “I am extremely pleased to welcome both Michael and Robyn to the team. With their experience in business development and account management, both will have an important role to play as we focus on growing profitable new business in the UK. Investing in key appointments such as these will also help us to better deliver on our ONE AXA strategy, by enabling greater interaction and collaboration with other AXA entities in order to achieve our common goals.”

Hiscox names Christian Nielsen as CFO of London Market & Hiscox Syndicates

Global specialist (re)insurer Hiscox has announced the appointment of Christian Nielsen as chief financial officer (CFO) for Hiscox London Markets and Hiscox Syndicates Limited (HSL).

Nielsen currently serves as CFO at Hiscox UK and director of Hiscox Insurance Company Limited (HIC), the group’s UK insurance carrier.

He will join the Hiscox London Market team in September of this year, and report to Kate Markham, CEO of Hiscox London Market. In his capacity as CFO for Hiscox Syndicates Limited, he will report to Hiscox Group CFO, Aki Hussain.

He joined the business in 2015 from Barclays where he held several senior roles, including head of Barclays Finance, Cost & Analytics and finance director for Barclaycard UK.

Since joining the firm, Neilsen has played a key role in delivering numerous critical regulatory and operational initiatives for the business, including HIC’s Solvency II implementation in 2016 and its preparations for Brexit, which included sponsoring the Part VII transfer of the European insurance business from HIC to Hiscox Société Anonyme (HSA), the group’s newly-created European carrier.

Nielsen is also a Hiscox partner, a member of the Group’s Finance Leadership Team, and an active member of the Steering Committee for the Group-wide Finance Transformation Programme.

Hussain commented: “Christian will be an excellent addition to our London Market business, which is poised for growth in the face of the most improved market conditions we have seen for some time. He brings strong commercial and financial leadership and a track record of delivery which will benefit both the London Market and HSL management teams.”

Alan Fairhead appointed to the board of Everest Insurance (Ireland)

Everest insurance, a division of (re)insurer Everest Re Group has appointed Alan Fairhead to the board of Everest Insurance (Ireland) as an independent non-executive director.

Fairhead brings over four decades of industry and international trading experience to Everest. He most recently served as chief underwriting officer of General Insurance at Zurich Insurance. Prior to Zurich, Fairhead spent over 20 years at the Guardian Royal Exchange Assurance group.

Vincent Vandendael, CEO of Everest Global Markets said: “Alan’s many decades of underwriting and general management experience, and his countless achievements, will greatly benefit our Everest Global MarketsSM team. I look forward to working with Alan, who brings a wealth of knowledge to advance our capabilities in the London and international marketplace.”

Rob Brown joins Charles Taylor as group CEO

Insurance services and technology solutions provider Charles Taylor has named Rob Brown as its new group chief executive officer.

Brown brings over 30 years of experience and deep insurance knowledge. He previously served as CEO of AXA Global Corporate Solutions where he was responsible for 1500 employees globally over a four-year period and led the business to expand its product solutions and client base.

Prior to AXA, Brown spent 15 years at Aon in a number of senior leadership roles in the UK and EMEA including a four-year tenure as CEO of Aon UK.

More recently, he held the position of CEO of Aon Risk Solutions, EMEA, with overall leadership of 15,000 employees across 50 countries from 2011 to 2014.

Brown has also held underwriting roles in commercial lines at global insurance carriers, including Zurich and AIG.

Edward Creasy, chairman of Charles Taylor commented: “We are delighted to welcome Rob to Charles Taylor. He is a highly regarded CEO with impressive insurance experience at the board and executive level within major insurance market organisations and an outstanding leader of people. Above all he is a great cultural fit for our organization having also spent time in multiple markets around the world in people-focused businesses.” He added, “We are looking forward to the future with Rob at the helm. We are confident that under his operational and strategic guidance Charles Taylor will continue to grow its distinctive market position as the provider of professional services and technology solutions supporting every stage of the insurance lifecycle and operating model.”

Rob Brown said: “The insurance industry increasingly relies on first class providers of services and solutions to access expertise and operational capacity, and to help market participants across the world deliver what their clients want. I believe that this will be truer than ever over the coming years as current market conditions drive more rapid operating model change. Charles Taylor has an outstanding reputation for superior client service and a great culture. I’m excited to be joining the team and to listening, learning and adding value as we collectively deliver the next chapter of Charles Taylor’s success.”

Ed continues to boost transactional risk team with new hire

Global reinsurance, wholesale and specialty broker Ed has named Robert Coward as divisional director in its professional and executive risk team, reporting to Niraj Perera, head of transactional risk, effective immediately.

In his new role, Cowards legal experience will play a role in providing insurance solutions for M&A transactions, including warrant and indemnity, tax liability and contingent liability.

He joins the firm from one of the leading law firms, Travers Smith, where he served as an associate working in the private equity team. Prior to this, he was an associate at McDermott Will & Emery, where he specialised in corporate M&A.

Niraj said: “Robert’s appointment is indicative of Ed’s continued commitment and ambition to expand its bespoke transactional risk offering.  Despite challenging times, there is currently a sharp focus on the M&A market, and we are confident that our ability to hire and invest in the best industry talent means that we can provide top-tier support and advice to our clients. Robert’s UK and international legal experience in M&A transactions will be an asset to our team, as we deliver specialty solutions to our private equity and legal clients.”

Marsh JLT Specialty announces two additions to renewable energy team

Global (re)insurer Marsh JLT Specialty announces the appointments of Joanne Silberberg and Dan Gumsley within the Renewable Energy team.

Silberberg joins as Canadian renewable energy leader. In this newly created role, she will report to Richard Doherty, head of Marsh JLT Specialty, Canada and Amy Barnes, energy & power practice leader, US and Canada.

She first joined Marsh in 2004 as part of the graduate programme and has since then has held numerous roles within Australia, primarily focusing on the energy & power sector.

In January of this year, Silberberg moved to Calgary to be part of the Energy & Power team.

Gumsley joins the Renewable Energy team at Marsh JLT Specialty as an account manager focusing on growing the offshore wind market in the UK. In his new role, Gumsley will report to Hamish Roberts, power leader.

He brings more than 20 years’ industry experience, both as a broker and an in-house insurance manager. He joins Marsh from one of the leading offshore wind developers in Europe.

Andrew George, global head of Energy & Power, Marsh JLT Specialty, commented: “As the world begins to emerge from lockdown restrictions, many countries are considering how, as a consequence of the pandemic, they may accelerate their decarbonisation programmes to take advantage of the recent lower demand for traditional power sources and petroleum.

“Depending on the location, the renewable energy sector can offer countries flexible, reliable, and proven technologies – including solar, onshore wind, offshore wind, bio-mass, hydro and battery power.

“Working as part of our global Renewable Energy team, Joanne and Dan will play key roles in delivering the services and solutions to support our energy clients in Canada and the UK as they transition towards more sustainable and carbon-neutral futures.”

SCOR Channel appoints heads of underwriting insight & terrorism

SCOR Channel, part of SCOR’s specialty insurance platform, has announced the appointments of Christian Stanley as head of underwriting insight and Christianna Vandoorne as head of tourism and political violence, joining 1 June 2020.

Stanley was previously the casualty executive of Lloyd’s underwriting performance management directorate. In this role, he was responsible for the oversight of syndicate underwriting performance and business planning for cyber, professional indemnity, D&O, reps and warranties and financial institutions.

Before joining Lloyd’s in 2011, Stanley was president of financial and professional lines at Navigators Syndicate 1221 for five years.

Stanley reports to Lawrence Harper, head of underwriting management.

Meanwhile, Vandoorne started her career in 2006 at Hiscox Syndicate 33 as a war, terrorism and political violence underwriter and since then has held several underwriting roles at Hiscox, Chaucer and Inter-Hannover.

Most recently she was head of Property, Energy and Political Violence at Hannover Re//Inter-Hannover, London.

Vandoorne will report to Nick Forti, active underwriter.

Additionally, SCOR Channel announced that Ian Fordham, head of product oversight and underwriting referrals, will retire in July after more than 50 years in the industry.

Ian joined SCOR Channel as a partner and head of accident and health in 2011 and was also head of underwriting management for six years, before taking up his current role in 2018.

Ian has been in the Lloyd’s market since 1968.

Stuart McMurdo, CEO of SCOR Specialty Insurance EMEA, said: “Christian and Christianna bring an excellent array of combined experience and expertise in our focus business areas. Their knowledge is invaluable, and we look forward to continued success in these areas of business and in supporting our clients in the market.”

Adding: “I’d also like to pass on my sincere thanks to Ian. He is an outstanding member of our team and has been a huge asset to the growth and development of this Syndicate. He has spent over 50 years in this industry so his experience, his expertise and his insight has been invaluable. On behalf of everyone at SCOR Channel, we wish him the very best with his retirement and future plans.”

London Market Group announces new board member

The London Market Group (LMG) has announced the appointment of Richard Harries to its board.

Harries is the chief executive officer at Atrium Underwriters and brings over 30 years of experience, 23 of which were spent at Atrium.

Harries will replace Paul Greensmith, who until recently was UK CEO of AXA XL.

Matthew Moore, chair of the LMG said: “We are delighted to welcome Richard onto the board. This is an extraordinary time for us all, and we are keenly aware that re/insurance has a key role to play in supporting the wider business community around the world. The counsel we get from our board members in deciding how the LMG can support all its stakeholders is vital and valued. I would also like to take this opportunity to thank Paul Greensmith for his time and input in the last several years.”