Ace Hires Regional Environmental Risk Underwriter AJ Gallagher

Ace Hires Regional Environmental
Risk Underwriter
Global insurer Ace has appointed Robert Latimer as
Environmental Risk Underwriter for the UK and
Ireland. Chiefly working with brokers outside
London, Ace said Latimer would be responsible for
growing its Regional Environmental Liability book
and programmes. Based in Manchester and
reporting to Emma Bartolo, Ace's Environmental
Risk Manager for the UK and Ireland, Latimer's
appointment begins with immediate effect, the
carrier said. Latimer has been working as an environmental consultant for the past 13 years. He
previously worked at OHES Environmental Consulting, a part of AJ Gallagher, where he served as
Principal Environmental Consultant. Commenting on the appointment, Bartolo said: "As the
environmental liability market continues to grow and develop, Robert's appointment is a
demonstration of Ace's commitment to offering unmatched expertise in this evolving sector.
Robert's strong technical skills and experience in dealing with environmental claims will provide our
brokers and clients with a detailed insight into how to build a robust and pragmatic programme to
insure their environmental risk."
AJ Gallagher Enters Chinese Market wsith JV
Broking heavyweight Arthur J Gallagher is set to enter the Chinese insurance market after signing a
joint venture agreement with Jiang Tai Insurance Brokers. The deal is understood to be the first joint
venture insurance broker launched in the China (Shanghai) pilot free trade zone. Under the terms of
the agreement, Gallagher will take a 24.9% share of ownership and establish a new Shanghai-based
operation, subject to regulatory approval. Jiang Tai Insurance Brokers was established in 2000, and is
majority-owned (59%) by Chinese state-owned companies and the government. As the third-largest
broker in China, Jiang Tai has 45 branches, more than 1,600 employees across major industries and
regions as well as the largest service network in mainland China. Other terms of the transaction
were not disclosed. Expected to launch in the first half of 2015, the new operation, trading as Jiang
Tai Re, will focus on Reinsurance and Specialty Lines. Jiang Tai's current President Frank Lu will lead
the 25-strong team of experienced, technical insurance professionals. Vyvienne Wade, International
Commercial Director at Arthur J Gallagher, said: "Our international expansion strategy is to introduce
Gallagher's expertise and capabilities into stable and emerging economies – and the opportunity
rarely gets larger or more rapidly emerging than China. But we were only prepared to take this
ambitious step with the right partner. As one of China's largest insurance brokers with a formidable
reputation, incredibly strong client relationships and cultural values aligned to our own, Jiang Tai
was the natural choice. It is an honour to partner with such highly regarded professionals as
Chairman Shen and President Lu as they look to expand their company's interests on the
international stage." Shen added that Jiang Tai had been planning the investment into international
expansion for some time, and that it had been of critical importance to choose a partner that was a
strong cultural fit. "Our delegation has spent a lot of time with the teams at Arthur J Gallagher, both
at the company's international division base in London and its global headquarters in the US, which
clearly showed our two organisations enjoy the same ethos and share the same values. We look
forward to a strong and successful partnership as Jiang Tai Re," he added.
Aspen Recruits New Head of A&H
from Beazley
Bermudan carrier Aspen has appointed Peter Slot
as Global Head of Accident & Health (A&H) at its
insurance unit. Slot most recently served as US
Head of A&H at Lloyd's (re)insurer Beazley, where
he has spent the last six years. He will assume the
newly-created role at Aspen Insurance in spring
2015, based primarily in London. Slot will report
both to Aspen's Head of FINPRO International,
Bernie de Haldevang, and Bruce Eisler, EVP for US
Financial Products and Professional Lines. Slot will primarily be in charge of developing the Aspen
Insurance's global offering in the A&H sector, but will also work closely with Aspen Re to identify and
develop opportunities within the global A&H reinsurance segment. Prior to his stint at Beazley, Slot
held the position of Regional Underwriting Manager for A&H UK and Ireland for AIG UK, having
served in senior underwriting roles with HCC (London) and Tokio Marine's Kiln syndicate before
that.
Aspen Promotes Kirk to Group Chief Financial Officer
Bermuda-based Aspen Insurance Holdings Ltd has promoted Scott Kirk to Group Chief Financial
Officer, effective immediately. His appointment is subject to receipt of customary regulatory
approvals. Kirk succeeds John Worth, who will be leaving Aspen. Aspen’s CEO Chris O’Kane
expressed his pleasure at Kirk’s promotion, adding that over the course of the seven years that he
has been at Aspen, he “has proven to be a highly talented strategic thinker and key financial leader,
both in his Group roles as Group Financial Controller and Group Head of Finance, and most recently
as CFO of Aspen’s insurance business. As CFO of Aspen Insurance, he has played an integral role in a
number of value-creating initiatives, including the successful growth of Aspen’s US Insurance
operation. We are excited that Scott is taking on this new role at Aspen.” Before joining Aspen in
2007, Kirk spent seven years in senior finance positions in various insurance companies. He started
his career as an auditor at KPMG in Brisbane.
Berkshire Hathaway Specialty
Launches Singapore Operation
Berkshire Hathaway Specialty Insurance (BHSI) has
announced that it has received its Non-Life Insurance
license in Singapore, and named Marc Breuil as
Regional President, Marcus Portbury as Head of Third
Party Lines, and Peter McKenna as Head of Energy and
Construction Casualty, in Asia. “We are pleased to
bring the stability and capacity of BHSI to serve the
commercial insurance needs of customers in Singapore,” said Peter Eastwood, President of BHSI.
“With Marc, Marcus and Peter spearheading our entry into the local insurance market, we are
pairing substantial expertise and local knowledge with our strong balance sheet from day one.” BHSI
is introducing a full range of commercial insurance products in Singapore, including Commercial
Property, Casualty, Energy & Construction, Marine, and Financial Lines. Breuil comes to BHSI with
over 20 years of international insurance experience, including more than a decade in various senior
level posts in the Asian market. He was most recently president & CEO of AIG Hong Kong, Macau and
Taiwan. Portbury has spent more than two decades in the insurance industry at various broking and
insurance organizations in Australia, Canada, Singapore, and Hong Kong. He was most recently
Regional Head of Casualty, Asia Pacific, for AIG. McKenna joins BHSI with more than 25 years of
experience spanning both Casualty claims and underwriting in Australia and Singapore. He was most
recently Asia Head of Casualty at Catlin.
Canopius Strengthens UK Accident & Health Team
Lloyd's (re)insurer Canopius has appointed Kieran Morrin as Divisional Underwriter for Accident &
Health (A&H) at its UK specialty business unit. In his new role, Morrin will report to Paul Dilley, Head
of Underwriting for UK Specialty. He joins from Zurich Insurance, where he was UK Head of A&H. His
remit included leading the transformation of the A&H division, developing multi-national
programmes and devising products for small and medium-sized businesses. Tim Crump also joins
Canopius as Head of A&H binders, UK Specialty. Crump previously held the position of Accident
Underwriter at WR Berkley Syndicate 1967 and has 36 years of Lloyd's market experience. Finally,
Philip Chandler has joined Canopius as an Underwriter in the A&H team. He previously worked as an
Assistant Accident & Travel Underwriter at Zurich. Commenting on the appointments, Tim Rolfe,
CEO of the UK Specialty division, said: "Kieran brings to Canopius an impressive track record of
successfully targeting this segment, having built underwriting teams and developed products from
scratch. Tim also brings a huge amount of specialist A&H experience and expertise to Canopius and
together with Phil's talents, these appointments will significantly strengthen our UK A&H
proposition."
GCube Appoints Chief Underwriting
Officer
GCube has appointed Stuart Burchell to the new role
of Chief Underwriting Officer, the renewable energy
specialist announced. Burchell will take overall
responsibility for underwriting. GCube said that the
appointment would enable it to place greater
emphasis on its core underwriting offering. CEO Fraser
McLachlan added that the firm's book of construction and operation of renewable energy assets had
become increasingly international over the past two years, moving into territories such as Latin
America, Africa and Asia Pacific. "For the underwriting and insurance markets, that's exactly why we
continue to enhance and refine our service proposition and core business units, in order to best
meet the needs of developers and investors," McLachlan continued. "Moreover, while the
established markets of North America and western Europe continue to show much promise and
good incremental gains, investors and developers now look further afield for high margin growth."
GCube said it was also focusing on developing the key areas of claims management, global business
development and finance and operations. Roy Munoz remains directly responsible for claims
management, while Jatin Sharma heads up global business development and Mark Wilson leads the
finance and operations team.
Hiscox Names Kam as Chief Risk Officer
Specialist global insurer Hiscox has announced the appointment of Hanna Kam as Chief Risk Officer,
subject to regulatory approval. An actuary qualified in both the UK and Australia, Kam has extensive
experience of working with global insurers both in-house and as a consultant. Reporting to Hiscox
Chief Executive Bronek Masojada, she will oversee the insurer’s risk management activities including
adherence to its Risk Management Framework and the final implementation drive for Solvency II.
Kam is currently on secondment from EY filling in as the Interim Chief Risk Officer position since
August. Bronek commented: “Hanna brings extensive industry experience and a critical eye to our
risk management processes. Having already worked as part of the team here, Hanna has a strong
grasp of the business and is a welcome addition to our Group Management Team.” Hanna joins
Hiscox from EY’s Risk and Actuarial Services team, where her focus is on capital and risk
management including Solvency II and actuarial claims reserve valuation. With over 13 years’
consultancy experience Kam has been involved in a range of international insurance projects, leading
large project teams as well as acting as Lloyd’s Syndicate Actuary, Head of Capital, Head of Risk and
Chief Risk Officer for various clients. Prior to her consultancy work, she spent four years with Zurich
Financial Services in Australia.
Integro Adds Morgan to Atlanta
Team
International broker Integro has hired former
Willis employee Brian Morgan as Atlanta
Operations Leader. Previously, Morgan was
Regional Partner, President and CEO at Willis of
Georgia. He was also President and CEO of Willis
of Tennessee and has experience in risk
management for real estate, construction,
healthcare and financial services, Integro said.
Marc Kunney, President of Integro North America,
commented: "Brian is widely recognised for his leadership skills and superior client service. Atlanta is
an important focus of Integro's growth strategy and with the recent acquisition of Atlanta-based
Dominium, Brian comes onboard at an especially exciting time for our firm." In November, Integro
purchased Dominium to lead its national employee benefit consulting practice. At the time, Integro
said the newly acquired company – which was launched in 2007 – would complement its Property
and Casualty operations in the large complex risk market.
IUA Appoints Market Modernisation Director
The International Underwriting Association (IUA) has appointed Louise Day as Programme Director
to lead its involvement in London market modernisation. Day will represent the IUA in
modernisation initiatives including electronic placing, electronic claims and the central services
refresh programme. She will also be responsible for managing the participation of the IUA's member
companies on several project boards and steering groups aiming to improve business processing in
the London market. Day will take up her role on 1 January 2015, replacing John Hobbs, who is
retiring from his role as the IUA's Senior Market Modernisation Representative. Hobbs will continue
to work for the IUA on a part-time basis. Day has previously worked for QBE, Amlin, Ace and Brit on
large-scale business and information technology projects.
JLT Re Boosts US Presence with
Benson
JLT Re North America has appointed Judy
Benson as Senior Vice President. She will be
part of JLT Re's team for the southeast region of
the US, led by David Johnson and JJ Johnson.
The role will focus on account management and
new business development. Previously, Benson
worked at Gallagher Re and Axiom Re. She also has experience in Workers' Compensation and
Medical Malpractice, and specialises in alternative risk self-insurance pools and captives. JLT Re
North America Executive Vice President JJ Johnson commented: "Having worked with Judy
previously, we already knew Judy's commitment to service and un-conflicted advocacy to her clients.
Judy is a perfect fit for JLT Re and its value proposition to its present and future clients." Benson
added that she was looking forward to helping the business grow, developing new clients and
augmenting the current account team.
Nexus Names New MD for Credit Insurance Business
Credit insurer Nexus CIFS has reshuffled its business as Bob Lilley, the Managing Director, is
appointed as Executive Chairman. Richard Marriage succeeds him. Marriage will take up his new
role in March 2015 when he will assume full operational responsibility for the CIFS business.
Marriage previously worked for CIFS when it was founded in 2000, where he was Underwriting
Manager for the business with a main focus on new business, risk and system administration. In
2010 he left to join Euler Hermes World Agency (EHWA). Colin Thompson, Chief Executive Officer of
the Nexus Group, the specialty managing general agency and parent of Nexus CIFS, said: “After
much thought and consideration, Bob has decided to step aside from his role as managing director
of Nexus CIFS and assume the role of Executive Chairman where he will continue to move the
business forward by providing stability, leadership and direction. Bob has proven to be an admirable
founder, architect and leader of CIFS and he will remain at the forefront of its growth and
development with his ideas and thoughts for the future.”
Skuld Boosts Marine Liability
Underwriting
Skuld, which runs Syndicate 1897 at Lloyd's, has
appointed Nick Hart as Marine Liability Class
Underwriter in the latest of a series of hires following
a staff exodus earlier this year. Hart is joining the
Norwegian protection and indemnity (P&I) club from
RSA, where he served as Marine Liabilities Business
Leader. Skuld said the new underwriter's role would
see him "cross-selling the syndicate's marine liability
capabilities" to the club's wider P&I membership. With 30 years' experience in the insurance
industry, most of which have been in broking, Hart previously worked at JLT and BMS before he
joined RSA in 2011. Hart is the third major hire in the last two months. Earlier this month, Skuld
announced that David Stallard would be joining the Syndicate as a Cargo Underwriter. And in
October, Aspen's Senior Energy Underwriter James Leeper left to join the Syndicate, where he was
expected to take the role of Interim Head of Offshore Energy. Commenting on the most recent
appointment, Douglas Jacobsohn, Skuld CEO and President, said: "[Hart] has an excellent reputation
in the market for his Marine Liability and P&I expertise and he is a great addition to the Skuld 1897
team. His appointment underlines our strategy of enhancing and investing in local capabilities to
support our members and clients."
Towergate Starts Selling Spree with Hayward Aviation
Debt-saddled UK intermediary Towergate has sold its aviation broker Hayward Aviation to JLT for a
consideration of £27m. The deal is the first in what is expected to be a series of disposals by
Towergate, as it attempts to get its £1bn of debt under control. Hayward is a specialist General
Aviation broker operating in the UK, Europe and South Africa, focused on helicopters and private
and corporate fixed-wing aircraft for high-net-worth individuals and small and mid-sized commercial
aviation clients. Interim Executive Chairman Alastair Lyons said that Hayward was sold because it did
not align with the broker's core strategic focus on Small and Medium Enterprises, Personal Lines and
the UK market. "Hayward is a strong international business, with well-established specialities across
the aviation sector... We are therefore pleased to see Hayward's move to JLT and wish them well
with the next phase of their growth strategy as part of a leading international broking business
which has aviation as a core specialty," he added. JLT Group CEO Dominic Burke said that the
acquisition provided a good opportunity to combine one of the best General Aviation brokers in the
world with JLT's aerospace capabilities and international network to create a strong platform for
growth in one of the its core areas of specialisation. "We have long admired Hayward Aviation and
are delighted to welcome the team and their clients to JLT," he added.
The acquisition is subject to regulatory approvals and other formalities and is expected to complete
in early 2015. The Hayward Aviation brand will be retained. For the year ended 31 December 2013,
Hayward Aviation generated revenues of £10m and profit before tax of £3m. The acquisition will be
financed from JLT's cash resources and debt, and is expected to be earnings accretive in the first full
year following completion.
This is your final EC News for 2014! Wishing you a
happy holiday season and a prosperous New Year from
all of us at Eames Consulting
Eames Consulting Group is a market-leading executive recruitment firm providing staffing solutions
across all sectors of the (Re)Insurance industry. With offices in London, Singapore and Zurich, we
identify and connect specialist talent with leading employers. We provide tailored recruitment
solutions with a proven track record of delivery. Our expertise and knowledge is broad, diverse and
trusted and we source talent from all areas of the Marine, Non-Marine and Aviation markets.
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