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EC News (11 March 2021)

March 11, 2021

Round-up of the weekly news and developments from the global (re)insurance market with stories from Marsh, BMS, Lockton Re and more.

Marsh names Amy Barnes head of sustainability & climate change strategy

Insurance broker Marsh has announced the appointment of Amy Barnes to the newly created position of head of sustainability and climate change strategy, effective 1 April 2021.

Barnes is set to relocate to London later this year from Houston, Texas, and will report to Lucy Clarke, president, Marsh JLT Specialty and Global Placement.

In her new role, she will have responsibility for leading Marsh’s global strategy on the development of climate and sustainability-related initiatives for clients, particularly in relation to the impact of a changing physical risk landscape, improving access to capital for green initiatives, and a more thorough understanding of climate-related project risk.

Barnes currently serves as US and Canada energy & power leader within Marsh JLT Specialty assisting clients across various risk and insurance issues, particularly with the transition from fossil fuels to renewables.

She joined Marsh in 2001 as an environmental consultant and has held several senior international insurance and risk advisory positions over the last 20 years in the UK and US.

Clarke commented: “Marsh is investing significantly in expanding its capabilities to support clients in achieving their climate and sustainability-related goals. Amy’s extensive experience working in the global energy and power sector, combined with her understanding of the challenges and opportunities facing our clients, makes her the ideal choice to lead our climate change and sustainability efforts.”

Barnes said: “The long-term wellbeing of our society and the future strength of the global economy all depend on our collective commitment to building a more sustainable environment.

“As the world emerges from the COVID-19 pandemic, there is a tremendous opportunity for organizations to place sustainability and climate change at the heart of their resilience. I look forward to working with our clients and colleagues as we transition to a more environmentally sustainable future.”

Ryan Saul joins BMS Re as senior vice president

Independent specialist (re)insurance broker, BMS has announced the appointment of Ryan Saul as senior vice president at BMS Re, effective immediately.

In his new role, he will report to Steve Galleger, executive vice president at BMS Re.

Prior to joining BMS, Saul served as a business development director and senior relationship manager at Conning for over five years focusing on insurance asset management and leading a number of major insurance investment portfolios.

Before then, he worked as a new business development professional at New England Asset Management. Saul was also vice president at Aon Benfield between 2000 and 2011, where he specialised in property reinsurance solutions.

Pete Chandler, CEO & president of BMS Re, said: “As a growing specialist reinsurance broker, our team continues to develop customized solutions and build new market relationships across a number of select areas within the (re)insurance industry. Our team’s extensive knowledge and experience allow us to understand our clients’ unique needs in both reinsurance and capital markets, and to deliver the most effective services and solutions.

With Ryan’s experience in both property reinsurance and insurance asset management, he will be instrumental in consolidating BMS’s market presence and supporting the development of our reinsurance products. We are very glad to have Ryan on board.”

Saul said: “BMS has a great reputation for offering tailored reinsurance solutions to fit the demanding needs in the ever-changing insurance landscape. Their strategic investment in analytics and areas such as property treaty show their understanding of client needs and I am very excited to join the team and work closely with such a professional and fast-growing outfit.”

Lockton Re adds Simon Moore as senior broker

Reinsurance broker, Lockton Re appoints Simon Moore as senior broker, joining the business in October 2021 within the Non-Marine Retrocession & Property Specialty team in London.

Moore brings nearly three decades of London and Bermuda market experience to the role, having begun his career working at various Lloyd’s Syndicates before joining Aon in 2002 as a loss modelling analyst and account manager for North American Property Treaty.

He then spent time at Gallagher Re in London and Bermuda, later becoming a broker at Aon Benfield in Bermuda. In 2015, Moore joined Markel CATCO as a senior underwriter and most recently served as chief underwriting officer of CATCO’s Investment Management on the Island.

Matt Foreman, Lockton Re in London and head of non-marine retrocession & property specialty, said: “Simon will be a great addition to our expanding global presence in the Retrocession marketplace. His wealth of experience across both Broking and Underwriting will enhance our holistic offering to clients. Simon’s analytical approach, experience within ILS and strong relationships will be a huge asset as we seek to bring innovative structures and solutions to clients. We very much look forward to welcoming Simon to Lockton Re in the third quarter of 2021.”

Keith Harrison, International CEO, Lockton Re, said: “Our global Retrocessional capability continues to expand reflecting our growing client base and their needs. Simon is a fantastic addition to both the team and Lockton Re as a whole as he shares our collaborative ethos and enthusiasm for putting clients first. His ability to combine a global perspective with on the ground London and Bermuda relationships and knowledge will be invaluable.”

CFC appoints Louise O’Shea to board

Specialist insurance provider CFC has appointed Louise O’Shea, CEO of Confused.com, to the company’s board as an independent non-executive director.

O’Shea has served as the CEO of Confused.com since 2017 and during that time has trebled the fintech’s profit and helped it soar past its £1bn revenue milestone.

Previously, O’Shea has served as a finance director and held a number of other roles at Admiral Group in the eight years prior to her becoming CEO at Confused.com.

O’Shea is currently chair of the InsurTech Board and a board member of FinTech Wales.

Dave Walsh, CEO of CFC said: “Louise truly understands the challenges of building a tech and data-driven insurance business in one of the most competitive markets in the world. She’s also incredibly passionate about pushing boundaries, testing new ideas and curating a purposeful culture. Her experience and her outlook align closely to ours, and we’re excited to bring her onboard.”

O’Shea added: “CFC is a remarkable business that has the innovation and agility of a tech startup along with the performance and experience of a seasoned insurance business,’ ‘They’re executing on an ambitious technology-focused roadmap and I’m eager to share my experience as they continue to challenge the industry and outperform their peers.”

Chubb appoints Richard Shanks as claims director for UK & Ireland

Global insurer Chubb has announced the appointment of Richard Shanks as claims director for UK & Ireland (UK&I), effective immediately.

Shanks succeeds John Latter who was recently promoted to senior vice president, claims director for the company's Europe and Eurasia & Africa regions.

Based in London, he will report to Latter and have responsibility for the delivery of Chubb’s claims service across UK&I.

Shanks has more than three decades of insurance industry experience and most recently served as claims operations transformation manager for the UK and Ireland.

Prior to joining Chubb last year, he held various senior claims leadership roles for other insurers and within the claims supply chain.

John Latter, senior vice president, claims director, Europe and Eurasia & Africa, Chubb said: "I am delighted to have promoted Richard to this key role. He has a strong track record of leading teams to deliver excellent claims service. His leadership and energy will help drive change as we evolve our award-winning claims proposition, ensuring that we continue to meet the constantly changing needs of our customers." 

AXA XL bolsters French operations with two key appointments

AXA XL has announced the appointments of Mathieu de Roquemaurel as underwriting manager, specialty and Daphné de Marolles as underwriting manager, Art & Specie and Private Clients for its operations in France.

In the newly created role, Roquemaurel will be responsible for the following lines of business in France:

  • Accident & Health
  • Art & Specie and Private Clients
  • Crisis Management & Security Risks
  • Political Risk, Credit & Bond

Marolles will have the responsibility for managing AXA XL’s Art & Specie and Private Clients portfolio in France as well as developing solutions for private and public art institutions, private and corporate collectors, and art professionals.

Roquemaurel joined AXA Group in 2010 as an auditor before joining AXA Enterprises in 2014. He later became head of business development, Large P&C Brokers at AXA France and joined AXA XL in 2017 as client distribution leader.

Additionally, Marolles has over two decades of insurance experience. She joined AXA Group in 1997 as a claims handler for Direct Assurance and later joined AXA Art as a middle office manager and then as an underwriter. She then became senior underwriter, private at AXA XL.

Julien Guénot, country leader, France at AXA XL, said: “Over the last five years, our clients have increasingly been seeking locally underwritten coverage for their specialty needs. We have grown our capabilities in the French market by adding crisis management and security risks to our suite of solutions. Mathieu will be leading our go-to-market approach for these lines of business to better support our clients and brokers.”

Yannick Daucourt, chief underwriting officer, Specialty, APAC & Europe at AXA XL, added: “Mathieu’s experience of working with regional brokers and across AXA Group’s entities positions him ideally to manage our specialty businesses while expanding our distribution opportunities for these lines of business. I’m delighted that he has joined our team.”

Commenting on Marolles’ appointment, Julien Guénot, said: “France is Europe’s largest market for art. In 2019, it was ahead of Germany, Italy and Switzerland with over 80,000 artworks sold, representing EUR 681 million. The COVID-19 pandemic has had an impact on sales, but it has also accelerated the digitization of the sector with the development of virtual exhibitions and online auctions. As a long time art insurer and supporter of the arts we want to work with our clients through this crisis but also enable them to embrace innovation.”

Hans Laenen, product leader, Fine Art & Specie and Private Clients, APAC & Europe, added: “Daphne’s knowledge of the art market makes her an ideal candidate to lead our Fine Art & Specie business and work with our specialized brokers to bring tailor-made solutions to our France-based clients.”