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EC News (8 April 2021)

April 08, 2021

Round-up of the weekly news and developments from the global (re)insurance market with stories from AXA XL, IGI, HDI Global SE and more.

AXA XL names Khera head of Marine, UK and Lloyd's market and global head of hull

AXA XL has announced the appointment of Sundeep Khera as head of marine, UK and Lloyd’s market, effective 1 July 2021, and global head of hull, effective immediately.

Khera currently serves as head of marine, Asia-Pacific at AXA XL, based in Singapore. In his new roles, he will have responsibility for driving strategic, profitable expansion across the UK & Lloyd’s region and the division’s Global Hull books of business. 

He will relocate to London to take up his new positions with the firm. AXA XL state Khera will step down from his current role in July to ensure a smooth transition of his current responsibilities.

Khera joined AXA in 2013 as a regional manager, Asia marine and transport risk consulting at AXA Corporate Solutions, later being appointed head of marine in 2015. In 2019, after the completion of AXA’s acquisition of XL Catlin, Khera was named head of marine, Asia-Pacific.

His career within the marine industry spans over 25 years, including five years at Emirates Shipping Line in a number of senior management roles, including general manager, operations, South East Asia and vessel planning manager, operations.  

Prior to that, he has been master mariner/captain at Titan Ocean Pte Ltd / Petro Titan and Chem Oil Corporation/ Link Marine Pte Ltd, and before that had undertaken chief officer, 2nd officer and 3rd officer roles for BW Shipping.

Peter Welton, chief underwriting officer, Marine, Energy & Aerospace, UK & Lloyd’s market at AXA XL, said: “I’m delighted that Sundeep will be taking on responsibility for our London-based marine business.  As a former Master Mariner/Captain in the field, Sundeep’s strength of leadership and depth of expertise will be key as we continue to serve our clients and support them in managing the risks they face today and in the future.”

Anne-Marie Elder, global chief underwriting officer, Marine & CUO Marine, Americas, added: “Sundeep has proven to be a hugely valuable member of the marine team and has built up a strong reputation both within AXA XL and the global marine insurance market. His high level of technical expertise and knowledge further strengthens our global hull business and his appointment is a demonstration of the bench strength we have available at AXA XL.”

IGI appoints Richard Foster as head of property, political violence and contingency

International General Insurance (IGI) has announced Richard Foster has joined its London office as head of property, political violence and contingency, as well as taking on the newly created contingency insurance line of business.

IGI will launch the contingency line of business to take advantage of the considerable opportunity to leverage the market dislocation caused by COVID-19.

Foster brings 24 years of specialty lines underwriting experience and joins from London-based Agile Risk Partners, where he served as director of underwriting. Prior to that, he was head of global property, London for Zurich Insurance PLC and Brit Global Specialty. Before that, he held senior positions with Allied World (AWAC).

The contingency line will primarily cover event cancellation, interruption or curtailment of events, non-appearance, or other contractual obligations.

Andreas Loucaides, IGI UK CEO said: “We are excited to welcome Richard to IGI. He comes with significant underwriting experience and will be a strong fit as IGI continues to grow and evolve. The addition of the contingency line of business complements our existing portfolio of specialty risks, and consistent with our measured underwriting approach, we will develop the contingency business with the same level of pragmatism and commitment to underwriting profitability.”

HDI Global SE names new director of liability underwriting

HDI Global SE, UK and Ireland has announced the appointment of Owen Digman as director of liability underwriting, effective immediately.

Digman previously served as liability manager at HDI for eight years. Prior to that, he held a number of senior management roles at RSA, Willis Towers Watson and Marsh.

This news follows last month’s announcement concerning Mark Appleton’s appointment to the global liability division management team, and he will continue to be based in London.

Claire McDonald, managing director HDI UK & Ireland, commented: “Owen has played a major role in the leadership of the Liability team over the past eight years, during which the team has experienced significant growth and delivered consistent profitability. I am confident, with Owen in his new role, that the book and team will continue to experience great results and growth in the years to come.”

Digman said: “I am both delighted and excited at the opportunity my new role brings. I believe we have best in class teams both regionally and in London and I look forward leading the Liability area to future profitable growth and success whilst continuing to provide our brokers and clients with an exemplary experience.”

Maxine Goddard joins Sompo International’s strategic distribution and development team

Bermuda-based specialty property and casualty (re)insurer, Sompo International has announced Maxine Goddard has joined its international insurance strategic distribution and development team as senior vice president, effective 1 April 2021.

Prior to joining Sompo, Goddard spent 20 years with Zurich Insurance, most recently as director, senior commercial operations business partner.

The Business Development team is led by Brenda Plessis, executive vice president, strategic distribution and development, international insurance. They will focus on the strategic development of broker and client relationships and potential new business opportunities in London, Europe and Bermuda.

Additionally, Rachael Dobie joins the team as assistant vice president, strategic distribution and development for international insurance. She joins the firm from Liberty Specialty Markets. Also, Mohiuddin (Moon) Hossen has been promoted to projects and strategy analyst, strategic distribution and development for international insurance from within Sompo International.

Plessis said: “We continue to make significant progress in building our business across all of our London and European platforms through better communications, expanding our product offering and building wider networks. There is a growing recognition that Sompo International is a global leader with significant capability and excellent talent. I am confident our team with this wealth of expertise can work to reach a wider range of audiences to deliver on our ambitions.

Their skills will help us to develop strong relationships and deliver solutions for our clients and broker partners that enable them to achieve effective risk transfer.”

Sebastian Cook joins Guy Carpenter as managing director & head of London Europe

Guy Carpenter, the reinsurance business of Marsh McLennan has announced the appointment of Sebastian Cook as managing director and head of London Europe, effective immediately.

In his new role, he will be responsible for leading the London-based teams focussing on European business (London Europe) and the newly formed European Broking Solutions Team, focused on working with the local European offices to build and execute customised reinsurance strategies for the continent.

Additionally, he will further develop the businesses catastrophe strategy across the European region and its approach to European Insurer Management. He will also play an integral role in directing the firm’s international RFP initiative.

Cook will report to Massimo Reina, CEO, Europe at Guy Carpenter.

He joins the business from Aon, where he most recently held the position of head of EMEA London and Deputy CEO, Nordic and Baltic Region. There, he was responsible for the production and servicing of large accounts across Continental Europe.

Reina said: “Guy Carpenter has established an expansive network of offices across Europe delivering products and services that reflect the unique demands of companies in each country. With Sebastian on board, our ability to deliver deep local market insight combined with our international services will be further strengthened, allowing us to better service our clients in the region.”