People in the News
Ascent poaches head of cyber from Brit
Ascent Underwriting, a London-based cyber and specialty lines MGA, has hired a new head of cyber from Brit Insurance.
Caspar Stops will take up his new role at the end of November 2018. He is currently a global cyber, privacy and technology underwriter at Brit, having previously served in senior underwriting roles at Aegis and Hiscox.
Ascent said the appointment follows that of James Weatherstone as non-executive chairman in March and Rob Harden as chief financial officer in June.
It added that with additional capital being provided by Preservation Capital Partners (which acquired a majority shareholding in Ascent in January), further appointments and product announcements are to be expected this year.
International Group names next CEO
The International Group (IG) has appointed Nick Shaw to lead the P&I club.
Alesco bolsters energy division with Miller hire
Alesco Risk Management Services (Alesco) has indicated its continuing commitment to upstream energy business with the hire of Steve Dewey from Miller as executive partner.
RSA’s Turner succeeds Berg as IUMI president
Richard Turner, European director of Global Risk Solutions at RSA Insurance Group, has been elected president of the International Union of Marine Insurance (IUMI).
Mr Turner succeeds Dieter Berg whose four-year term of office has ended.
Mr Turner has served on the executive committee of IUMI between 2011 and 2015 and, before that as a member of the nominating committee.
BMS continues energy team build-out with more Price Forbes hires
London wholesaler BMS has continued to build out its nascent energy insurance team with three more hires from rival Price Forbes and a fourth addition from JLT.
In February BMS launched a new energy insurance division to complement its existing reinsurance arm with the hiring of Price Forbes executive James Chicken.
Shortly after, it was revealed that his former Price Forbes colleague Charlie Bowring would be joining as chairman together with Sebastian Graham from Miller.
Now, the firm has unveiled four new hires including three more from Price Forbes together with JLT North American energy specialist Lynsey Green.
In addition to Ms Green, Kevin Page, Robin Gibbs and Darren Jones will all join from Price Forbes’ power, nuclear and construction team once their notice periods are complete.
Mr Page has over 30 years’ experience and for the last ten years he has focused on US and multinational clients in the international power and nuclear sectors.
Mr Gibbs began his career at JLT in the natural resources team, before joining the power and downstream energy team at Price Forbes in 2014.
Mr Jones brings 28 years of experience in the sector to BMS and has been at Price Forbes since 2010.
BMS and Price Forbes have a similar heritage as independent London market intermediaries with a sizeable client base of North American retail brokers.
Price Forbes is a London market wholesaler that was sold in 2016 for an undisclosed sum to become part of the Towergate-owning Ardonagh Group.
Last year, Price Forbes and its in-house sister peer Bishopsgate lured a team of brokers from rival Alesco led by MENA specialist Nawaf Hasan and North American expert Peter Burton.
More recently, it announced the hiring of a four strong team to boost its power, utility and construction division including Simon Howell, a former Marsh UK managing director.
Last year Price Forbes’ largest shareholder Michael Donegan sold his remaining shares and stepped down from the wholesaler which is now led by James Masterton.
BMS has a well-established marine and energy reinsurance practice led by Tim Paske, but little direct energy business. It has earmarked Mr Chicken to build out a team which will focus on both US and international energy business.
Liberty taps Allianz exec to develop UK, international coverholder business
Liberty Specialty Markets (LSM) has appointed Lewis Edwards to the newly created role of head of underwriting, delegated authority for specialty lines.
Mr Edwards joins LSM from Allianz, where he most recently served as head of portfolio solutions in the global corporate and specialty division. Prior to that, he was head of broker management and has held underwriting and governance roles at Allianz, AIG and Heath Lambert.
Reporting to chief underwriting officer, specialty Mike Gosselin, Mr Edwards will focus on developing and implementing the underwriting strategy for large, multiline binders, mainly in property, casualty, environmental, personal accident and contingency.