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EC News (4 February 2021)

  • Publish Date: Posted almost 2 years ago
  • Author:by Alan Jarque

Round-up of the weekly news and developments from the global (re)insurance market with stories from Hiscox, AXIS Re, CNA Hardy and more.

Hiscox hires Aimee Nolan to lead London Market cargo team

Specialist global insurer, Hiscox names Aimee Nolan to lead its London Market cargo team as cargo line underwriter.

Based in London, Nolan will report to Mike Southgate, divisional director for Marine, Energy and Specialty.

In her new role, she will manage a cargo team of four underwriters with additional support in pricing and exposure management.

Nolan joins the business from Canopius where she has served as deputy head of cargo since 2016. She also spent four years as a senior underwriter at Amlin as well as broking roles with Glencairn Limited and Aon Limited.

Southgate commented: “Cargo owners around the world face increasingly complex operating challenges related to issues such as pandemic induced capacity problems, customs delays and economic sanctions. Cargo insurance is a core part of our offering and helping our clients to effectively manage their cargo risks and protect their balance sheet with a broad and competitive product is critical.

“It’s why we have appointed Aimee to lead the team. She has already made a big name for herself amongst the next generation of leading underwriters coming through and is well respected by brokers and clients alike. With a broking background to add to her extensive underwriting experience, she has deep insight into the client perspective which will be hugely valuable to us as we continue to build on Hiscox’s reputation in the cargo arena.”

Aimee Nolan said: “Hiscox has re-established itself in the cargo insurance market in recent years and I’m excited to help take the team to the next level. We know it’s been a tough risk landscape for cargo clients and we’re committed to partnering with them and their brokers to develop the best risk solutions.”

AXIS Re appoints Katie Partington Howarth as CUO

AXIS Re, the reinsurance business arm of AXIS Capital Holdings Limited has appointed Katie Partington Howarth as chief underwriting officer (CUO) and head of the reinsurance products division.

In her new role, Partington Howarth will be responsible for the global underwriting approach and portfolio management for all lines of business across AXIS Re.

Based in Bermuda she will report to Steve Arora, AXIS Re CEO and become a member of the Reinsurance Leadership Team.

Partington Howarth joins the firm with over two decades of (re)insurance industry experience and most recently held the position of group head of ceded reinsurance for Argo where she was responsible for the implementation of the company’s treaty reinsurance and retrocessional purchases worldwide.

Prior to that, she was head of underwriting risk for Ariel Re, having served in a series of senior roles at the company since 2005.

Partington Howarth joined Ariel Re from Benfield Ltd., where she spent four years as a catastrophe risk analyst and broker. She began her reinsurance career at E.W. Blanch in London.

Arora commented: “Katie is a highly accomplished and widely respected reinsurance leader. She brings unique versatility – combining technical underwriting skills, analytical and portfolio management acumen, and a commercial perspective. With a proven track record of success in underwriting and managing portfolios across multiple global markets, Katie will play an important role as we continue on our path to be a profitability leader in the reinsurance industry. We are excited by her energy and calibre.”

Ramesh Singh joins CNA Hardy as head of specialty

CNA Hardy has announced the appointment of Ramesh Singh as vice president and head of specialty for the UK and Continental Europe, effective April 2021.

Based in London, Singh will report to Jalil Ur Rehman, president and CEO of CNA Hardy and Kevin Smith, president and chief operating officer Specialty. 

He will join the firm from AXA XL where he most recently served as the UK/Ireland & LATAM regional head of financial lines and has previously held senior roles at both AIG and Chubb.

Rehman commented: “Ramesh brings extensive technical, business and leadership experience to our Specialty business. I am truly excited to welcome him to CNA Hardy.”

Kevin Smith added: “I am thrilled to welcome Ramesh to our CNA Specialty business. His extensive cross line experience will continue to strengthen our customer proposition.” 

Swiss Re Corporate Solutions names Slack as head UK, Ireland, SA & EMEA Wholesale

Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re, have announced the appointment of Melanie Slack as head UK, Ireland, SA & EMEA wholesale, effective 1 May 2021.

In her new role, she will have responsibility for managing the strategy, development and performance of the business’ presence in the British, Irish and South African corporate insurance markets.   

She currently serves as country head Australia and New Zealand at Swiss Re CorSo and will relocate from Sydney to London to take up her new role.

Slack joined Swiss Re back in 2001, where she gained international experience in various senior management positions in Underwriting, Internal Audit and Public Private Partnerships. She has over three decades of (re)insurance industry experience and has worked in Canada, France, Germany, Hong Kong, Switzerland, the UK and the U.S.

With this appointment, Slack also undertakes the role of branch manager of Swiss Re International SE UK branch, subject to regulatory approval.

Fred Kleiterp, chief executive officer Europe, Middle East & Africa at Swiss Re CorSo, commented: “We are thrilled to have a talent like Melanie to head our teams in the UK, Ireland and South Africa and I am proud that we have been able to fill this role internally. Melanie is a seasoned leader and has been instrumental in the growth of Swiss Re Corporate Solutions in Australia and New Zealand.

“With Melanie’s wealth of re/insurance industry expertise, I am confident that we will continue to deliver a comprehensive commercial insurance offering to our customers in the UK, Ireland and South Africa and further grow with our differentiating capabilities such as Innovative Risk Solutions.”

Lockton Re hires Stephen Bertolla as senior broker for International P&C division

Lockton Re, the reinsurance business of global broker Lockton, has announced Stephen Bertolla will join its International P&C division as a senior broker in London later this year.

Bertolla will join the business from Guy Carpenter where he most recently served as an account executive and senior broker having joined in 2016.

He began his career at Gerling Global & Reinsurance Co in Motor and long tail lines and later held senior roles at JLT, Marketform and Benfield, focusing on motor, casualty, and medical malpractice. 

Carla Moffett, head of International P&C, Lockton Re, said: “We’re delighted to have Stephen join our growing team, over the last 12 months we have seen the P&C division go from strength to strength. Stephen specialises in Casualty, Motor and other long tail classes of business, bringing deep expertise and an excellent market reputation.  His experience of long tail business for global clients and advising on structures and strategies will be a great asset to both our growing client base and colleagues across Lockton Re.”

Keith Harrison, International CEO, Lockton Re, adds: “Stephen is an excellent addition to our expanding offering and testament to our continued ability to attract excellent market talent. He is a great cultural fit for our collaborative culture and focus on clients. As we reach over 100 colleagues in Lockton Re’s International business and close to 200 globally, we feel incredibly proud of our ability to provide the best possible solutions to clients. Whilst Stephen will be based in our London office he will be highly engaged with clients and colleagues across the globe. We are very excited that Stephen will be joining Lockton Re and look forward to working with him.”

MS AUL announces new chief risk officer & chief actuary

MS Amlin Underwriting Limited (MS AUL), appoints Vishal Desai as chief risk officer and Catherine Scullion as chief actuary.

Desai will join the business in May 2021 and succeeds Giles Holland, who is departing the business to pursue other opportunities. He brings over 18 years of general insurance experience and will report to Johan Slabbert, CEO of MS AUL.

He joins the firm from Bank of England where he held the role of acting head of division general insurance risk specialists and chief actuary.

He has led extensive review work across both wholesale and retail general insurance businesses across risk management, reserving, capital and underwriting.

Additionally, Scullion will assume the newly created role of chief actuary in April 2021 and report to Phil Green, CFO of MS AUL.

She joins the business from Lloyd’s of London, where she has worked since 2015 and held her most recent position of head of capital since 2018.

Slabbert, commented: “I am delighted to announce these two senior appointments, both of which will support our business transformation and strengthen our core leadership teams. Both Vishal and Catherine bring a depth of sector, risk and actuarial expertise that will immediately contribute to our strategic ambitions. We are delighted to attract such diverse senior talent, and underpins our aspirations as a prestigious underwriting business, with a London market presence worthy of our heritage and potential.”

“I would like to take this opportunity to thank Giles for his hard work and commitment to the business over the past 20 years. We wish him the very best in the future.”

AXA XL appoints Michael Colao as global CUO for cyber

AXA XL has named Michael Colao as global chief underwriting officer (CUO) for cyber, reporting to Libby Benet, global CUO for Financial Lines.

In his new role, he will be based in London and manage aggregate cyber exposure across AXA XL’s products globally as well as helping to develop and implement strong underwriting standards globally and drive innovation.

Colao most recently served as corporate chief security officer within AXA Group Operations where he had oversight on information security, physical security, and operational resilience for a number of entities within AXA Group, including AXA XL. Prior to that, he served as chief security officer for AXA UK and Ireland.

Colao represents the Insurance industry in the Bank of England’s Cross-Market Operational Resilience Cyber Coordination Group and serves on the steering committee of the UK government Financial Services Cyber Coordination Centre, advising on regulation as appropriate.

Benet said: “Michael brings a wealth of knowledge from his nearly 20 years as a senior Cyber Security expert in the financial service industry, his background and technical expertise will complement the underwriting talent within our global cyber team, providing a unique perspective into cyber risk.”