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EC News (22 October 2020)

October 22, 2020

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

LIIBA adds Heather Clarkson to board

The London and International Insurance Brokers' Association (LIIBA) has appointed Heather Clarkson, director and divisional CEO, Specialty at Ed to the board, replacing Andrew Draycott, CEO of Ed London, effective immediately.

Clarkson joined Ed Broking as managing director of its Marine Division in 2018 and was appointed CEO of Ed’s Specialty Division and a director of the Board of Ed Broking LLP in January 2019.

In 2020 she extended her remit by taking further responsibility for the marine and non-marine reinsurance teams at Ed.

Prior to Ed, she worked at Aon Risk Solutions where she had most recently held the position of chief broking officer – Marine and head of Hull.

Clarkson was also a member of Aon’s Global and London Marine executive committees. Clarkson began her career with Marsh, where she served for over 20 years in the Montreal and London offices.

Christopher Croft, CEO of LIIBA, said: “These are challenging times for everyone in the intermediary sector and we are delighted Heather is joining our board. Her wealth of experience in one of London’s core markets will be invaluable, as will be her representation of our wider community and the independent wholesale community – whose voice is vital in our work”.

Kathleen Reardon joins Hiscox as CEO of Hiscox Re & ILS

International specialist insurer, Hiscox announced the appointment of Kathleen Reardon as CEO of Hiscox Re & ILS succeeding Mike Krefta, who will be stepping down in early 2021.

Reardon most recently held the position as CEO of Hamilton Re and spent her early career at ACE in various actuarial and underwriting roles, rising to chief underwriting officer for International Property at ACE Tempest Re in 2005, based in Bermuda.  

She joined Hamilton Re in 2013 as Chief Underwriter (Property), and was appointed CEO in 2014, a post she held until earlier this year.

Reardon is a fellow of the Casualty Actuarial Society, served in 2020 as the chair of the Reinsurance Association of America, and is the former chair of Women in Reinsurance – an organisation she co-founded.

In a recent press release, Hiscox states that Reardon’s depth of knowledge and presence in global reinsurance, coupled with her proven leadership skills in building businesses across the cycle will be invaluable to the Group. She will sit on the Group Executive Committee and will be based in Bermuda, leading Hiscox’s Reinsurance and ILS teams which operate from Bermuda and London.

Bronek Masojada, Hiscox Group CEO commented: “Kathleen brings the market knowledge and leadership skills we need to ensure that Hiscox Re & ILS can take advantage of a hardening market and deliver good returns to our reinsurance partners, ILS investors, and shareholders. She will also ensure our offering to cedents evolves as the market evolves. I look forward to working with her and benefiting from her fresh perspective.

“I would also like to thank Mike Krefta our current CEO of Hiscox Re & ILS. Mike joined in 2003 as a management information analyst and rose through the ranks to become CUO and then CEO for the last four years. Through his underwriting expertise, energy and commitment, Mike has made an impressive contribution to Hiscox. This includes Mike’s efforts as Executive Sponsor for our ESG commitments, he has passionately brought together activities from across the Group to form a comprehensive plan gaining the support of the Board, colleagues and external stakeholders. He leaves with our very best wishes for the next chapter.”

Chubb adds Alex Forman as casualty manager for UK & Ireland

International (re)insurer, Chubb has appointed Alex Forman as casualty manager for the UK & Ireland (UK&I), effective immediately.

Based in London, Forman will be responsible for the profitability and growth of Chubb's UK&I Casualty portfolio with product line oversight of all casualty business written throughout the region. He will report to Mark Roberts, P&C chief underwriting officer for the UK&I.

Forman previously served as head of UK Retail Underwriting for Swiss Re Corporate Solutions, after joining in 2012.

Roberts said: "I'm delighted to have Alex join the UK&I product line management team. He brings with him not only a wealth of experience but also tremendous knowledge and insight which will enable him to lead our largest product line in a dynamic way. This appointment will help position Chubb at the forefront of the casualty market by delivering growth and effective solutions at an exciting time for our business."

Richard Panter joins Apollo as head of specie, cargo at Syndicate 1969

Independent specialist (re)insurer Apollo Syndicate Management has named Richard Panter as head of specie and cargo at Apollo Syndicate 1969.

At Apollo, he leads the team developing its specie and cargo offering and reports to Paul Letherbarrow, head of aviation and member of the executive committee.

Panter brings over 37 years’ experience in the insurance sector and has held senior roles at Catlin and XL Catlin between 2001 and 2016.

Prior to joining Apollo, he served as head of fine art and jewellers’ block at AXA XL since 2016.

David Ibeson, group chief executive at Apollo, said: “As part of Apollo’s long-term strategy, we have been investing in talent and resources to grow our specialty lines, with our market leading specie and cargo team being an area of considerable focus as we see considerable trading improvement in the class.”

Panter added: “While more opportunities arise in the current specie and cargo market, clients are looking for professional support, especially from experts with strong market relationships and extensive analytical and actuarial capabilities.”

Liberty Specialty Markets names Mandy Macqueen as chief digital transformation officer

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Mandy Macqueen to the newly created role of chief digital transformation officer, effective immediately.

Based at LSM’s London Office, Macqueen is responsible for implementing the delivery of the LSM’s change agenda and structural alignment of the Project Delivery, Change and Technology teams.

Macqueen reports to Kirk Maddern, LSM chief operating officer, and John Heveran Global Risk Solutions chief information officer.

She brings several years’ experience in major IT and change roles, both in-house and as a consultant. These include managing large IT departments in financial services, including legal and compliance and retail and corporate banking.

Maddern commented: “We welcome Mandy to Liberty and are excited about her new role. The role was created to support LSM’s objective to bring technology and the business closer together as a single force delivering value and capabilities to the company.”

AXA XL promotes Robbie Hardingham as UK head of downstream energy & power

AXA XL, a subsidiary of AXA, has announced the promotion of Robbie Hardingham as UK head of downstream energy and power, effective immediately.  

In his new role, Hardingham will be responsible for managing all underwriting in the UK for downstream energy and power, ensuring strategic development of the business.

Peter Welton, UK Head of Energy at AXA XL, commented: “I’m delighted that Robbie will be taking on the role of UK Head of Downstream Energy and Power. Robbie has been with AXA XL for the duration of his career and has excelled throughout that time, building up an in-depth understanding of the business and our clients. His appointment is a great reflection of the quality of talent at AXA XL.”

Gallagher appoints Nick Price as market management director

Global (re)insurance brokerage Gallagher has announced the appointment of Nick Price as market management director.

In his new role, he will report to Ron Hays, global broking director and have responsibility for supporting Gallagher’s Retail division in the manager of insurer relationship and ensuring the firm has access to a wide range of products and services for clients.

Price joins the business from Zurich where he most recently held the position of global broker relationship leader. He brings 20 years of insurance experience having also held roles at AIG, RSA and AXA.

Hayes commented: “Nick brings a wealth of experience from his time at both AIG and more recently Zurich, and has excellent relationships across the industry. He is a first-rate addition to our market management team and will enable us to further develop our UK and international insurer relationships.”

Price shared: “I am delighted to be making the move to Gallagher’s market management team and the broking side of the industry having worked for insurers for a number of years. In my role I will be supporting the team with advice and strategic input on how we can ensure that our clients have access to a wide range of insurance solutions and continuing to develop strong relationships with our insurer partners to enable us to do this.”

DUAL announced capital investment and appoints Alan Telford as CUO

Hyperion Insurance Group’s managing general agent, DUAL has announced it will deploy group underwriting capital alongside its existing capacity providers. Additionally, the firm has announced the appointment of Alan Telford as chief underwriting officer, effective 1 November 2020.

Telford will report to Richard Clapham, who currently holds both the CEO and CUO roles at DUAL.

DUAL states, the addition of Telford brings further bench strength to the DUAL leadership team and the appointment will allow Clapham, who currently holds both roles, to focus on DUAL’s strategic priorities as the business enters its next phase of development.

David Howden said: “This is a game-changing moment for DUAL. Now, by providing capital to DUAL, we move to the next stage of our underwriting journey at an exciting time for the Group when we have also welcomed a new investor. I am thrilled that with this announcement DUAL takes the lead in defining what the underwriting business of the future looks like.”

Richard Clapham said: “Over the last four years we have made significant investments in our actuarial and analytical capabilities, as well as our service infrastructure and technology, to build out an agile and scaleable underwriting platform with efficiency and performance centre stage. This has been critical on our path to continually dialling up the provision of innovative and expert underwriting and dialling down the frictional costs of insurance.

DUAL’s long-term partnerships with its capacity providers, some of which stretch back over two decades, have been critical to its success. The Group’s commitment to providing capital to DUAL is the next step in the bonding of these long-term relationships.

I am delighted to welcome Alan as Chief Underwriting Officer. He brings not only his wealth of experience but also his deep understanding of DUAL from his previous role as CUO, Commercial at Liberty Specialty Markets, one of DUAL’s long-term capacity providers. He could not join us at a more exciting time.”