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EC News (22 April 2021)

April 22, 2021

Round-up of the weekly news and developments from the global (re)insurance market with stories from AXIS Re, Aston Lark, Arch UK Insurance and more.

Lisa Hiscock joins AXIS Re as senior underwriter, Lloyd’s Casualty

AXIS Re, the reinsurance business of AXIS Capital Holdings, has named Lisa Hiscock as senior underwriter, Lloyd’s Casualty for the Global Markets team, effective immediately.

In her new role, she will underwrite Lloyd’s Casualty treaty business where she will be responsible for supporting both existing partnerships as well as assessing growth opportunities. She will also focus on building strong business relationships.

She joins the business from AXA XL where she spent five years. Hiscock began her career at Hiscox in London as an underwriter within the specialty team. She then relocated to Australia where she focused on crisis management lines with a broad remit of classes and line management responsibilities.

Hiscock will continue to be based in Australia with plans to transfer to the United Kingdom later in 2021.

Joe Sweeting, head of Lloyd’s Casualty for AXIS Re said: “We’re delighted to welcome Lisa Hiscock to AXIS Re. Lisa’s unique blend of experience in the industry spans over 10 years. Her broad experience of class and geographies will be valuable as we continue to make strides in achieving our business objectives.”

Aston Lark agrees terms to acquire O'Loughlin Insurance Group

Aston Lark, the chartered insurance broker backed by Goldman Sachs, has announced it is set to acquire Irish insurance brokerage, O’Loughlin Insurance Group.

Based in Swords in County Dublin, the O’Loughlin Insurance Group was founded in 1984 by David O’Loughlin and focuses on bother personal and commercial lines insurance.

Robert Kennedy, Aston Lark Ireland CEO, said: “O’Loughlin Insurance Group will be a great addition to Aston Lark in Ireland, bringing expertise in a number of niche areas across personal and commercial insurance. Dave O’Loughlin, having founded the business more than 30 years ago, was well known in both the insurance industry and North County Dublin. His customer-first ethos has continued to this day and he would be very proud of the business Paul O’Loughlin, Michelle Richardson and the team have built over the past few years. Following on from the recent acquisition of North County Brokers, this is another step in an exciting journey for Aston Lark in Ireland. With further deal announcements imminent, we are on track to realise our ambition of becoming Ireland’s leading independent insurance broker.”

Peter Blanc, Aston Lark Group CEO, added: “The Aston Lark management team are delighted to see Rob and his team secure another excellent acquisition. We’re fast becoming the acquirer of choice in the Irish market and I know Rob is very keen to continue finding like-minded brokers to join the group.”

Paul O’Loughlin, managing director of O’Loughlin Insurance Group, said: “Following consultations in a very active mergers and acquisitions market, we are delighted to have chosen the Aston Lark Group for the future of the business. We are excited about their vision for developing the insurance broker business in Ireland and locally, and the opportunities it will provide for our staff and customers. It’s a competitive market and we are pleased that Aston Lark values the local broker and the service we provide to our loyal customers. We are very excited about the future as part of the Aston Lark Group.”

Arch UK Insurance regional division promotes Vicky Rowlay & Neil Peters

Arch Insurance’s UK regional division has announced the promotions of Vicky Rowlay to national director - business transformation and Neil Peters to national director – branch network, both effective immediately.

In Rowlay’s new role, she will focus on developing and implementing key business strategies, including oversight of a new Speed-to-Market initiative, as well as assuming responsibility for the company’s Regional Trading and Online Underwriting team.

Meanwhile, Peters will be responsible for driving business production and heightening broker engagement levels across the Branch network.

In these newly created roles, Peters and Rowlay will work closely together and report to Steve Bashford, CEO, UK Regional Division.

Rowlay previously served as regional director for the North of the UK, having joined the UK Regional Division following its launch. Prior to that, she was regional director – North West at Fusion Insurance Services.

Prior to his promotion, Peter was regional director for the South of the UK having also joined Arch with the launch of the UK Regional Division in 2019. Previously, he was managing director, London at Towergate Insurance.

Both Rowlay and Peter will join Arch Insurance’s UK Regional Division Executive Committee alongside Bashford, Mike Bottle, who is head of the UK regional strategy and distribution team and Stuart Danskin, UK regional director of underwriting.

Bashford said: “The promotions of Vicky and Neil to national roles are important to our continuing evolution and add further impetus to our growth strategy.  As National Directors with responsibilities across our entire UK Regional business, they will be charged with developing new opportunities to deliver class-leading solutions to our broking partners and maximise long-term profitable, sustainable growth across the Division.”

Guy Carpenter names Cordonnier & Davis as global co-heads of Cyber

Guy Carpenter, the reinsurance broking subsidiary of Marsh McLennan has appointed Anthony Cordonnier as managing director and global co-head of cyber, effective second half of 2021, and the promotion of Erica Davis to global co-head of cyber, effective immediately.

Cordonnier and Davis will work closely together co-leading the firm’s cyber team to effectively leverage its global footprint, advanced analytical capabilities and sector knowledge.

Guy Carpenter state that the creation of these roles demonstrates the company’s continued investment in its cyber platform and commitment to strengthening its leading market position.

Based in London, Cordonnier will report to James Boyce CEO, Global Specialties, Guy Carpenter, and Davis is based in New York reporting to Will Garland, president, Centre of Excellence, North America, Guy Carpenter.

Cordonnier joins the business from Swiss Re where he most recently served as director and head of the company’s Reinsurance Cyber Centre. Within this role, he was responsible for building its portfolio and overseeing its global underwriting activities.

Additionally, he currently serves as the chair of the International Underwriting Association’s Cyber Reinsurance Committee.

Davis joined Guy Carpenter in 2018 and most recently served as managing director and leader of the company’s North America Cyber Centre of Excellence. She brings over 20 years of cyber (re)insurance market experience and played a key role in the development of Guy Carpenter’s strategic approach in the sector.

As part of Guy Carpenter’s ongoing growth of its cyber expertise, it has also announced the appointments of Jess Fung as managing director and North American cyber analytics lead, and Rebecca Ruddy as senior vice president within its North American cyber team.

Fung joins the business from Willis Re where she most recently served as executive vice present, leading its US West Coast actuarial team, and head of analytics of its Professional Liability segment and the Global Cyber Practice Group.

Ruddy joins from Aon Reinsurance Solutions, where she held the position of director and reinsurance treaty broker, as well as a member of the firm’s Global Cyber Practice Group.

Boyce commented: “At Guy Carpenter, we have built our reputation in the cyber arena on our ability to develop solutions for our clients that combine the breadth of expertise within our team, the technology that we bring and the depth of analytical insight that we offer. By appointing Erica and Anthony as our Global Heads of Cyber and bringing the scope of our cyber capabilities together in a single, globally unified team we believe we can offer the market a truly exceptional suite of services and solutions.”

Garland added: “The speed at which the cyber threat landscape is developing demands the highest level of knowledge and experience to ensure that risk transfer solutions are evolving at pace. As our cyber team grows, we are continuing to deliver unmatched expertise and insight to help our clients around the world address the multiple cyber challenges they face.”

AGCS names David Brown to lead Capital Solutions team

Allianz Global Corporate & Specialty (AGCS) has announced the appointment of David Brown as head of its Capital Solutions unit, effective 1 July 2021.

Currently head of insurance linked markets, Brown will succeed Richard Boyd who is departing Allianz and moving back to the UK from Bermuda for family reasons.

Boyd joined what was then Allianz Risk Transfer (ART) in London in 2005, moving to ART Bermuda in 2008. He then became head of insurance linked markets in 2010 and in 2015 he served as chief underwriting officer for ART globally, later becoming global head of capital solutions.

Brown joined Allianz Risk Transfer in London in 2007 and relocated to Bermuda as an underwriter in 2010. In 2015 he became head of insurance linked markets and was appointed president of AGCS’ subsidiary, Allianz Risk Transfer (Bermuda) Limited, in 2020.

Grant Maxwell, global head of alternative risk transfer, comments: “Richard and David have worked together for many years, and so while we’re sorry to see Richard move on to take his next career steps outside Bermuda, David is ideally positioned to take over from him, and to continue to build this important part of our business. I want to thank Richard for his great contribution to AGCS and we all wish him well in the future.”