Insurance News
Butterworth Spengler, a North West insurance broker, has invested in a rebranding in the lead up to its 100th anniversary celebration. Founded in Liverpool, Butterworth Spengler joined the JMG Group in 2021. John Lacey believes the move inspired the Directors’ ambitious growth plans for the business, adding: “Joining JMG has helped us up our game. We knew we wanted to grow, and this has turbocharged it.” (Jonalyn Cueto, 8/12/2023, Insurance Business UK, 'Broker to overhaul branding in time for 100th anniversary')
London-based insurtech startup Rosetta Risk Management (RRM) has secured investment from Howden Ventures for its plan transition to become a fully tech-enabled construction insurance MGA. RRM currently operates as an SaaS platform. With the transition, it will aggregate construction risk performance data. Details on building materials, construction techniques, and project timelines can be gathered with the use of real-time data from construction projects. With the availability of more reliable data, RRM can provide a better underwriting approach as it transitions into an MGA, it claims – it will be able to derive new insights and reduce premiums for the sector. (Jonalyn Cueto, 8/12/2023, Insurance Business UK, 'Rosetta Risk Management secures investment to transition to an insurance MGA')
Northern Ireland-based insurance broker AbbeyAutoline has extended its partnership with Ulster Rugby, retaining exclusive naming rights to the AbbeyAutoline Family Stand at Kingspan Stadium until the end of the 2025/26 season. The extension of the deal is part of its 50th anniversary celebration. The ongoing partnership will deliver a range of family-friendly match-day and non-match-day activities as it aims to create unique experiences for Ulster Rugby supporters and AbbeyAutoline customers and employees. In addition, the broker and the rugby union team will host a series of innovative events and campaigns to members of the local business community aimed at fostering growth, networking, and professional development. (Jonalyn Cueto, 8/12/2023, Insurance Business UK, 'AbbeyAutoline extends partnership with Ulster Rugby')
LV= General Insurance has announced changes to its partnership with UNISON, a trade union in the UK. With the partnership, UNISON members now have access to LV=’s home, travel, and pet insurance offerings. LV= has been the exclusive provider of car insurance to UNISON members for decades, along with standalone breakdown cover through Britannia Rescue – now its partnership has been extended. (Jonalyn Cueto, 7/12/2023, Insurance Business UK, 'LV= becomes exclusive provider of home, travel, and pet insurance to UNISON members')
One in five businesses in the UK have been hit by a cyberattack in the past year, according to new research by Aviva. Aviva’s study, covering over 1,200 businesses of varying sizes and industries, looks into trends in cyber resilience. It found that businesses are more likely to encounter a cyber incident than a physical theft and nearly five times as likely to experience a cyberattack than a fire. Despite this elevated risk, a cyber insurance coverage gap has prevailed across industries, with only 36% of businesses reporting that they have some form of cyber cover. (Mika Pnagilinan, 7/12/2023, Insurance Business UK, 'Aviva reveals how many UK businesses are hit by cyberattacks')
Sedgwick has announced the launching of a carbon value calculator to be used to quantify the emissions of building repairs on UK property damage claims. The new carbon value calculator was developed by Sedgwick’s repair solutions division in the UK. The development follows news that the UK division achieved carbon neutrality in 2022. According to a news release, it showcases the business’s focus on leading the industry in promoting ESG initiatives, adopting sustainable practices, and tackling emissions. (Jonalyn Cueto, 7/12/2023, Insurance Business UK, 'Sedgwick launches new carbon value calculator')
The British Insurance Brokers’ Association (BIBA) has announced a partnership deal with QBE. “QBE is a leading global insurer with an established footprint and track record in the UK. It has become an important partner to regional brokers and I very much welcome them into the BIBA family,” said Graeme Trudgill, CEO at BIBA. “Our broker members are keen to access their technical expertise and I am sure our members will find the wide range of products offered by QBE of great interest.” (Jonalyn Cueto, 7/12/2023, Insurance Business UK, 'BIBA introduces QBE as new partner')
Fintech and insurer Ripe has announced the availability of a new product to cover motorhomes and campervans, expanding further their portfolio. Ripe specialises in leisure, lifestyle and small business insurance, providing cover for boats, golf equipment, bicycles, musical instruments, photography equipment, as well as personal trainers, fitness instructors, sports coaches and hair and beauty businesses. It has also built a customer base from insuring static and touring caravans and now has over 350,000 policyholders. The insurer uses a proprietary technology and “build your own” policy model, promising to deliver quotes in less than 120 seconds. (Jonalyn Cueto, 7/12/2023, Insurance Business UK, 'Fintech Ripe launches new product to cover motorhomes and campervans')
The UK has welcomed its first environmentally-focused car insurance broker, The Green Insurer, aimed at assisting drivers in reducing carbon emissions and promoting eco-friendly driving habits. The Green Insurer offers car insurance policies accessible directly from its website and through prominent price comparison platforms. Recent research indicates a growing consciousness among motorists about the environmental impact of driving. A survey found that 53% of drivers are more aware of their environmental impact than a year ago, and 69% more so than three years ago. Approximately 28% plan to reduce their driving miles in the next year. Environmental concerns and cost-of-living considerations are leading 61% and 76% of drivers, respectively, to cut back on their mileage. (Kenneth Araullo, 7/12/2023, Insurance Business UK, 'The Green Insurer officially launches, takes aim at carbon footprint reduction')
The Dive In Festival 2023 celebrated a significant achievement by attracting 30,986 participants from a record 84 countries, setting a global participation record. The festival, themed “Unlocking Innovation: The Power of Inclusion,” adopted a hybrid format and featured over 135 events across 37 countries on six continents. These events included discussions by more than 500 speakers on key topics such as artificial intelligence, indigenous rights, and sustainability. (Kenneth Araullo, 6/12/2023, Insurance Business UK, 'Dive In 2023 draws record numbers globally')
Specialty MGA Optio Group has entered into a partnership agreement with AmFirst Insurance Company (AmFirst), a large, US-based, A-rated carrier known for its expertise in property and casualty and medical areas, according to a news release. The partnership will enable underwriting capacity for political violence and terrorism (PVT) risks across the globe, excluding the US, for the first time via Optio. The exclusive capacity will be used in conjunction with Optio’s digital rating tool, which enables real-time, data-driven underwriting of PVT risks. The recently developed tool is expected to provide enhanced efficiency and service for both the broker and the insured. (Jonalyn Cueto, 6/12/2023, Insurance Business UK, 'Optio announces partnership to reach PVT market')
Taff Ely Foodbank has received an award of £20,000 from insurance provider Aviva with the help of Thomas Carroll Group. Thomas Carroll Group has supported foodbanks over many years – and this year, the group applied for the Aviva Broker Community Fund Award on behalf of Taff Ely Foodbank. The objective of the community fund is to help a cause that will benefit the local community, especially related to climate action and financial wellbeing. (Jonalyn Cueto, 6/12/2023, Insurance Business UK, 'Taff Ely Foodbank receives £20k Aviva Community Fund Award')
Premium finance company in the UK and Ireland, Premium Credit has signed a multi-year partnership agreement with Broker Insights, a provider of data analytics and market insights, to work towards enhancing its 100% insurance premium finance offering. With the partnership, Premium Credit broker partners get access to Broker Insights’ VisionTM technology, aimed at enriching their oversight as well as expanding their reach in the commercial insurance market. (Jonalyn Cueto, 6/12/2023, Insurance Business UK, 'Premium Credit introduces new partner')
Howden Group Founder and CEO David Howden addressed the pressing issue of climate risk management and protection for vulnerable countries at a recent keynote address for COP28. Howden highlighted the industry's role in measuring and safeguarding against risks, supporting investment in the future. Referring to discussions at COP26 and COP27, including the landmark agreement on loss and damage, Howden emphasised the need to leverage private sector capabilities to protect and invest in vulnerable countries. “For some reason, there seems to be a belief that the climate risks for vulnerable countries in the Global South are uninsurable. The problem isn’t that they’re uninsurable, it’s that there has been nobody to pay the premium at the scale required,” he said. (Kenneth Araullo, 5/12/2023, Insurance Business UK, 'Howden CEO COP28 keynote focuses on loss and damage')
UK-based insurtech Flock has entered a strategic partnership with NIG, a commercial insurance provider. This collaboration marks a key development in Flock's expansion, following its successful fundraise of over £30 million earlier this year. The partnership is set to focus on a digital and data-driven approach to motor fleet insurance. This collaboration will integrate a fully digital insurance management portal, provide rebates for safer driving practices, and offer comprehensive safety and claims workshops for customers and broker partners. The initiative aims to enhance risk coverage capabilities across various commercial motor segments in the UK. (Kenneth Araullo, 5/12/2023, Insurance Business UK, 'Flock announces strategic partnership with NIG')
AbbeyAutoline has announced that it has raised £150,000 for the Northern Ireland Hospice. Staff from various divisions participated in the fundraising efforts, utilising company-wide initiatives such as a Give As You Earn (GAYE) contribution scheme, as well as events like sponsored walks, coffee mornings, and casual Fridays. The £150,000 donation is part of the long-running association between AbbeyAutoline’s parent company, Prestige Insurance Holdings, and the local charity. It also coincides with the broker’s ongoing community engagement programme to commemorate its 50th anniversary. (Mika Pangilinan, 5/12/2023, Insurance Business UK, 'AbbeyAutoline raises £150,000 for the Northern Ireland Hospice')
Aspen Insurance has chosen New York instead of London for its initial public offering (IPO) worth $4 billion. According to people who were familiar with the decision, part of the reason were concerns surrounding valuations and stringent listing requirements in the UK. Aspen’s listing in New York instead of the London Stock Exchange will be another blow to the UK market as many companies have already opted to either switch their listings to the US or float there in the past few years. (Abigail Adriatico, 4/12/2023, Insurance Business UK, 'Aspen chooses New York instead of London for $4 billion IPO')
Miller has announced the launch of MillerMo, a new artificial intelligence (AI) tool designed to assist the specialty broker’s staff. This tool was created by MillerLabs, the company’s internal innovation hub, and marks the start of a series of AI-focused developments aimed at benefiting the firm, its employees, and clients. MillerMo is equipped with various functions, including serving as a personal assistant, proofreading, the ability to generate content, translation, data set analysis, and software development. The tool’s primary goal is to streamline administrative tasks for Miller’s employees, enabling them to concentrate more on the essential aspects of their roles. (Kenneth Araullo, 4/12/2023, Insurance Business UK, 'Miller launches AI tool for employees')
Tysers, a global broker based in the UK, has announced that ACORD Solutions Group’s (ACORD) ADEPT and ACORD Transcriber will be integrated in its platform following ACORD’s selection as the broker’s strategic messaging partner. “Data is at the heart of everything we have and are doing. By adopting these platforms into our systems architecture, we can validate and streamline the data ingestion and data exchange with our clients and markets,” said Steve Jolley, Chief Information Officer, Tysers. (Abigail Adriatico, 4/12/2023, Insurance Business UK, 'Tysers announces integration of ACORD Solution Group's platform and service')
Mergers & Acquisitions
Brown & Brown has announced the appointment of Alan Clarke as Managing Director at Brown & Brown (Europe) Limited’s South West hub, Higos, effective January 1, 2024. In his new role, Clarke will report to his predecessor, Matt Hartigan, who has been promoted to Director of the retail division. Hartigan now oversees retail across the South West of England and South Wales. “Alan has been a loyal servant to Higos for over 23 years and his knowledge and experience, paired with his unrivalled passion for the business makes him the perfect choice to lead the business into the next phase of development,” said Hartigan. (Jonalyn Cueto, 8/12/2023, Insurance Business UK, 'Brown & Brown appoints new MD at Higos')
The London & International Insurance Brokers' Association (LIIBA) has recently announced the addition of three senior women from the London insurance market to its board. Gina Butterworth, Chief Operating Officer of Gallagher Re UK, Margarita Hutley, Director at Iris Insurance Brokers, and Holly Shepherd, Managing Director of Shepherd Compello, have officially joined the LIIBA board. Butterworth will represent the interests of reinsurance brokers on the board. Meanwhile, Hutley and Shepherd have been appointed to new board positions specifically created to represent smaller broking firms. This move highlights LIIBA's commitment to ensuring diverse representation and expertise within its governance structure. (Kenneth Araullo, 8/12/2023, Insurance Business UK, 'LIIBA taps three new board members')
The Ardonagh Group (Ardonagh) is exploring options for a comprehensive refinancing of its entire debt portfolio to facilitate further acquisitions, according to a report. The move, if materialised, would mark one of the most substantial transactions in the realm of private credit. According to Bloomberg, sources familiar with the matter revealed that the UK-based insurance brokerage is engaged in discussions with lenders regarding the refinancing of existing loans and the establishment of new credit lines dedicated to acquisitions. (Roxanne Libatique, 6/12/2023, Insurance Business UK, 'The Ardonagh Group explores options to fund further acquisitions')
The International Underwriting Association (IUA) has announced the election of Claire McDonald, member of the executive board for HDI Global SE, as the new Chair of the association. She succeeds Phil Hobbs, President and Managing Director of Liberty Specialty Markets, effective January 1, 2024. McDonald was elected at the November meeting of the IUA board. She has been a member of the IUA board since 2021 and is currently the Deputy Chair of the association. Also elected were three new Deputy Chairs, Theo Butt, CEO of Convex Insurance UK Ltd; Matthew Gordon, Underwriting Director for Specialty and Property Investors at Aviva Insurance Ltd; and Simon Wilson, President at Markel International. Their appointments are effective immediately. (Jonalyn Cueto, 8/12/2023, Insurance Business UK, 'IUA announces new chair')
In a strategic move, Intact Financial Corporation (Intact) and its subsidiary Royal & Sun Alliance Insurance Limited (RSA) have formally announced the sale of RSA's UK direct personal lines operations to Admiral Group plc (Admiral). This decision follows RSA's comprehensive strategic review and is aligned with its goal of focusing on sustainable outperformance in the UK&I segment. As part of the agreement, Admiral will acquire RSA's UK direct personal lines operations, encompassing home and pet insurance, with an estimated annual premium of £165 million. The transaction involves the transfer of renewal rights, brands, and employees, while RSA retains the claims reserves to be run off over time. (Roxanne Libatique, 7/12/2023, Insurance Business UK, 'Admiral Group swoops for RSA's UK direct personal lines operations')
Specialist Risk Group (SRG) has entered into an agreement to acquire CBC Partnership (CBC), a London-based insurance intermediary, pending regulatory approvals. This acquisition marks SRG's 19th and its 6th in 2023, demonstrating a continued expansion strategy. CBC, known for its expertise in professional lines, is set to complement SRG’s existing capabilities in this area, adding to its portfolio of specialist businesses in the UK, Ireland, and internationally. Under the terms of the agreement, the CBC team, comprising 100 professionals, will continue operating under the leadership of Chairman Andrew Wallas and CEO Robert Cottingham from its City of London headquarters. CBC is expected to retain its brand identity post-acquisition. (Kenneth Araullo, 7/12/2023, Insurance Business UK, 'Specialist Risk Group announces acquisition of CBC Partnership')
Charles Taylor, a provider of international adjusting services and technology solutions to the global insurance market, has acquired Leading Edge Assist (LEA), a Weybridge-based loss adjuster that specialises in aviation claims, including main aviation and commercial airlines. LEA brings to Charles Taylor a strong network of partners to provide aviation claims capabilities globally. “I am thrilled LEA will be part of a global aviation adjusting provider, enabling us to build on our successful business in the UK and develop further scale and global breadth,” said Hugh Thacker, LEA. (Jonalyn Cueto, 6/12/2023, Insurance Business UK, 'Charles Taylor acquires independent aviation-focused loss adjuster')
Independent broker Clear Group has announced the acquisition of the entire general insurance book of regional broker P W White & Partners Limited. The deal does not include the financial services business of P W White & Partners Limited. P W White & Partners Limited is based in Amersham and has been part of the insurance industry for 50 years. It provides insurance solutions across a wide range of clients including combined liability, property owners, and professional indemnity risks. (Jonalyn Cueto, 5/12/2023, Insurance Business UK, 'Clear Group announces latest acquisition')
Corby-based Hallsdale Insurance has acquired Leicester-based ABR Insurance (Allbright Bishop Rowley Insurance). ABR Co-Owners Simon and Gill Allbright will remain in the business, at the same premises with the existing team. “We now become part of a bigger team by merging with Hallsdale Insurance, with more insurer schemes and lots of support across all aspects of our business,” said Simon Allbright. We remain fully committed to growing the business further over the coming years and working closely with Angela [May, Managing Director] and Simon [Drysdale, Director] at Hallsdale, who we have got to know well and are excited to be partnering with to develop ABR Insurance further.” (Jonalyn Cueto, 5/12/2023, Insurance Business UK, 'Hallsdale Insurance acquires ABR Insurance')
Bspoke Insurance Group Ltd has agreed to acquire the personal lines elements of the Police & Forces Mutual businesses, Police Mutual Healthcare (PMHC) and Police Mutual General Insurance (PMGI), from The Royal London Mutual Insurance Society Limited (Royal London). Bspoke Group, which is backed by private equity investors RCapital Partners LLP & MIG Partners LLP, will acquire 100% of the share capital of the two businesses, subject to regulatory approval. This is the second acquisition for the specialist insurance MGA group following their buy-out in October 2022, further building the momentum for their organic and inorganic growth strategy within the niche insurance sector. (Bspoke Insurance Group, 4/12/2023, youTalk Insurance, 'Bespoke group buys two Police Mutual businesses from Royal London')
Movers
TheArdonagh Group has announced the following changes to its senior management team for 2024: Conor Brennan will assume the new role of Executive Chairman of Ardonagh International, bringing entities previously part of Ardonagh Europe and Ardonagh Global Partners into one platform supported by one leadership team. Conor, who previously led Ardonagh Europe, will be joined by Des O’Connor, previously CEO Ardonagh Global Partners, in the new role of Chief Investment Officer International. They will be supported by John McCarthy as CFO International, who has transitioned his Arachas CFO responsibilities to Martin Mohan. In Ireland, Joey Wynne, currently Deputy CEO of Arachas, will step into the Arachas CEO role in line with a longstanding succession plan. Antony Erotocritou will take on the role of Group Chief Commercial Officer, working with Chief Executive David Ross, CFO Diane Cougill and CIO Aurelio Cusaro, on corporate and financial transactions. Andrew Wallin, previously Group Head of M&A, has been appointed CEO of Specialty Broking.(The Ardonagh Group, 7/12/2023, youTalk Insurance, 'Ardonagh makes changes to senior management team')
Pen Underwriting has announced the appointment of Megan Jones as its Capacity Relationship Manager effective January 2, 2024. Jones joined Pen’s Manchester Underwriting Management business in October 2022, starting out as a Specialist Commercial Lines Underwriter looking after the renewal of some of Pen’s largest and most complex UK clients. She is now the Senior Professional Indemnity (PI) Underwriter for UK PI at Pen. (Jonalyn Cueto, 7/12/2023, Insurance Business UK, 'Pen Underwriting introduces new capacity relationship manager')
Lloyd’s global re/insurer MS Amlin has announced the appointment of Clare Constable as the Chief Claims Officer, a newly established position within the company. This appointment is set to take effect from Jan. 1, subject to regulatory approval. Constable joined MS Amlin as Head of Claims in November 2022 and has since implemented several significant changes to the company's claims services. Notably, she has been instrumental in introducing a new claims service philosophy and deploying an AI-powered claims triage tool. These initiatives aim to enhance response times for brokers and clients. (Kenneth Araullo, 7/12/2023, Insurance Business UK, 'Ms Amlin taps inaugural chief claims officer')
QBE Europe has announced the appointment of James Purkis as Market Management Executive effective January 1, 2024. Purkis has been a part of the insurance industry for 35 years, including 15 years of experience in underwriting and 12 years in corporate placement., he served at Marsh and was a part of the QBE client team before moving on to distribution. (Jonalyn Cueto, 6/12/2023, Insurance Business UK, 'QBE Europe introduces new executive to drive visibility across Continental Europe')
Markel has announced the appointment of Jo Sykes as Divisional Director for the UK broker channel. The move is part of a growth strategy focused on cultivating broker relationships, according to an emailed news release from the global insurer. Sykes arrives from AXA, where she held the position of Director of Commercial SME and spearheaded growth initiatives, digital transformations, and associated underwriting outcomes. Her industry experience spans over 25 years, with previous tenures at Zurich and RSA across commercial insurance. (Mika Pangilinan, 6/12/2023, Insurance Business UK, 'Markel boosts UK broker ties with key appointment')
AutoProtect Group has announced the permanent appointment of Graeme Nieman as its Chief Executive Officer. Nieman initially joined AutoProtect Group in May 2022 as an interim CEO. He brought with him extensive experience and a comprehensive understanding of the automotive sector. His relationship with the company precedes his interim role, having been a key figure and a long-term collaborator with the business. Prior to joining AutoProtect Group, Nieman held the position of Head of Motor Product Partnerships at Correlation Risk Partners, the sole shareholder of AutoProtect Group. He has also played a significant role in the operational and group boards of the company, contributing to its strategic direction and expansion. (Kenneth Araullo, 6/12/2023, Insurance Business UK, 'AutoProtect Group names new CEO')
American International Group has announced the election of James (Jimmy) Dunne III as an Independent Director on its board of directors, effective Dec. 1. Dunne serves as Vice Chairman and Senior Managing Principal of Piper Sandlet, an investment bank and financial services company. He co-founded Sandler O’Neill & Partners, which was acquired by Piper Jaffray in 2020. Under Dunne’s leadership, Sandler became the largest independent, full-service banking firm focused on the financial services industry. Dunne is a graduate of the University of Notre Dame and a member of its board of trustees. He is also a member of the board of Chime Financial and the PGA Tour Policy Board. (Ryan Smith, 5/12/2023, Insurance Business UK, 'AIG elects new independent director')
Sedgwick has appointed Leah Cooper as Global Chief Digital Officer, a newly established role. Cooper became part of Sedgwick in 2014, when the company acquired Absentys, a software development and service provider she co-founded. She most recently served as Managing Director of Global Consumer Technology. She also positions as Vice President and later as Senior Vice President of IT applications, overseeing the design and development of Sedgwick’s client-facing technology. (Mika Pangilinan, 5/12/2023, Insurance Business UK, 'Sedgwick selects global chief digital officer')
Global broking giant Aon has announced the appointment of Alison Clarke as the new Head of Renewables for its Global Broking Centre (GBC) & UK. Alison joined Aon in September 2022 as part of the Energy Transition team. Her experience in renewables and risk solutions spans close to three decades. She most recently joined the risk management team at BP and took on executive roles at Fidelis Insurance and Zurich Insurance. (Jonalyn Cueto, 5/12/2023, Insurance Business UK, 'Aon names new head of renewables for GBC & UK')
IQUW, a property specialty insurer and reinsurer, has announced the appointment of Diane Gallacher as Group Chief People Officer for the IQUW Group. Gallacher brings to the group more than 25 years of experience in leadership, talent management, and culture. She previously held senior roles at Talbot and Validus Group. (Jonalyn Cueto, 5/12/2023, Insurance Business UK, 'IQUW introduces new group chief people officer')
Beat Capital Partners (Beat), a long duration investor specialising in insurance startups, has announced the launch of RedRiff Agency Limited (RedRiff), a specialist Accident & Health (A&H) underwriter. In addition, it has appointed Peter Wilkins to be its CEO beginning in December. Wilkins brings to the new business more than 35 years of experience in A&H. He most recently held senior positions at QBE Re prior to joining Beat. He also led the A&H account for QBE Syndicate 566 and spent more than a decade as a Personal Accident Underwriter before joining QBE. (Jonalyn Cueto, 5/12/2023, Insurance Business UK, 'Beat appoints chief to establish new A&H business')
Zurich Community Trust (ZCT), the charitable arm of Zurich in the UK, has announced the appointment of Laurie Deans as its new Head. Deans will succeed Steve Grimmett, who is set to step down in April next year after a five-year tenure leading the trust. Deans has been with Zurich for two decades, having initially joined the company through the Actuarial Graduate Scheme in 2004. Throughout her career at Zurich, she has held various roles in pricing and underwriting, leading to her most recent position as Head of EEA Implementation and Engagement. Deans’ involvement with ZCT extends over several years, including her membership in the trust executive since 2020. This experience has provided her with practical insight into the trust’s operations. This year, ZCT is celebrating its 50th anniversary, having contributed over £100 million to local communities during its existence. (Kenneth Araullo, 5/12/2023, Insurance Business UK, 'Zurich Community Trust names new head')
American International Group (AIG) has announced the appointment of Rose Marie Glazer as General Counsel, effective immediately. Glazer has served as Interim General Counsel since Oct. 1. In her new role, Glazer will remain an Executive Vice President reporting to AIG Chairman and CEO Peter Zaffino, and a member of the company’s executive leadership team. Prior to taking on the role of General Counsel, Glazer had served as AIG’s Chief Human Resources and Diversity Officer since January of 2022. (Ryan Smith, 4/12/2023, Insurance Business UK, 'AIG selects general counsel')
Tokio Marine HCC International (TMHCCI), a specialty insurance group, has announced the appointment of Matthias Sandfort as its new Head of Surety in Germany. Sandfort has held various director-level roles over the last 20 years in firms such as Westdeutsche ImmobilienBank, Helaba, Natixis Pfandbriefbank AG, and Corestate Bank. Prior to joining TMHCCI in his new role, he was the Managing Director of Corestate Bank for five years. (Abigail Adriatico, 4/12/2023, Insurance Business UK, 'Tokio Marine HCC International announces new head of surety in Germany')
Insurance leader Matthew Willson is set to become the next Chair of Trustees at Blood Cancer UK, a charity focused on blood cancer research and support. Wilson, Advisor to Fairfax Financial and Lloyd’s of London, is to assume the position in early 2024. He succeeds John Ormerod, who will be ending his five-year tenure as the current Chair. With a mandate to lead the board, Wilson joins the charity at a pivotal moment. Blood Cancer UK has invested £500 million in research over the past 50 years and it plans to increase funding while simultaneously amplifying efforts to shed light on a condition affecting 270,000 people in the UK alone. Wilson’s insurance career includes leadership roles at Brit Insurance from 1999 to 2022, culminating in his position as Group CEO in 2018. He was also Chairman of Ki Insurance, in addition to serving on the boards of Brit Limited, Brit Syndicates Limited, and Ki Financial. (Mika Pangilinan, 4/12/2023, insurance Business UK, 'Esteemed insurance leader named chair of trustees at Blood Cancer UK')
AXIS Capital Holdings Limited has announced that it has appointed Stan Galanski to the company’s board of directors. Effective January 1, 2024, Mr. Galanski will join the board and will serve on its risk committee. Mr. Galanski most recently served as President and CEO of The Navigators Group, a NASDAQ-listed global specialty insurer that he grew from $150 million in premiums to $2 billion, while leading the Company from 2003 until its 2019 acquisition by The Hartford. Previously he served for two years as CEO of Intercargo Corporation, a global NASDAQ-listed specialty insurer, until its sale to XL Capital in 1999. Mr. Galanski’s prior roles include two years as President of New Hampshire Insurance Company – an AIG subsidiary, as well as 15 years at Chubb in various management and underwriting roles. (AXIS, 4/12/2023, youTalk Insurance, 'AXIS names Stan Galanski to its Board of Directors')
All information provided in this Market Digest has been gathered from Insurance Business UK and youTalk Insurance.
