Thursday, 3 May 2012
Beazley to establish European political risk team in Paris, Marsh to sell part of Gibbs Hartley Cooper to R K Harrison, ACE appoints Jeremy Cole as Risk Control Manager in UK and Ireland Casualty Risk Engineering Department and Joan Lanzagorta joins XL’s Mexican operation.
Beazley to establish European political risk team in Paris
Beazley will establish a European political risk team with Crispin Hodges, a Political & Credit Risks Underwriter, moving from the company’s Singapore office to develop the new venture. Ann Russell-Cook will succeed Mr Crispin in Asia.
The new European team will be based in Paris and begin life on 7 May. The company said the move is part of its plans to expand beyond its Lloyd’s of London hub.
"Beazley's strategy is to target locations where there is a viable opportunity to establish a locally-based, specialist political risk underwriting team, and represents a significant long-term commitment on the part of the Beazley Group to the local market," said Mr Hodges.
"Our teams are located where there is a strong and healthy local broking community generating a good flow of clients. Increasingly we see a preference to place business locally where there are expert local brokers and a critical mass of underwriting capacity. To provide the speed and service our clients expect and to grow our business in Asia and in Europe we need to offer specialist underwriting teams on the ground,” he added.
Ms Russell-Cook joined Beazley’s Asian political risk team on May 2 from the Multilateral Investment Guarantee Agency (MIGA).
Before working for MIGA, Ms Russell-Cook was Assistant Vice President of Political Risks and Structured Trade Credit with Chubb in Australia and Asia. Prior to this she held a similar role with AIG in Australasia.
Commenting on her appointment, Ms Russell-Cook said: "My goal will be to take the Beazley business to the next stage in Singapore and Asia, maintaining the speed, service and commerciality which is expected of a Lloyd's entity."
She will assume all underwriting responsibility for political risk and trade credit for the Asian market and is supported by Susan Lim, who will continue to underwrite standalone terrorism and contingency business for the region.
Marsh to sell part of Gibbs Hartley Cooper to R K Harrison
Marsh has reached an agreement to sell a portfolio of four businesses within Gibbs Hartley Cooper (GHC), a part of Marsh UK, to R K Harrison. The transaction is expected to close in the second quarter of 2012, but terms have not been disclosed.
The businesses being sold comprise all of GHC’s Specie and Cargo practices and most of its North America Property & Casualty and Accident, Health & Contingency practices.
These businesses became part of Marsh in 2010, following Marsh’s acquisition of HSBC Insurance Brokers. They in turn became part of a unit that was subsequently rebranded Gibbs Hartley Cooper.
“Following a recently concluded internal strategic review, GHC has decided to focus as a portfolio-centric broker, providing London wholesale services to third parties and Marsh’s UK businesses, managing underwriting services platforms to the markets and broking capacity creation for managing general underwriters (MGU),” said the broker in a statement.
“Consequently, the practices being sold are viewed as non-core to its future activities,” continued Marsh
Martin South, CEO Marsh Europe, said: “Marsh has been delighted with its purchase of HSBC Insurance Brokers and sees exciting growth opportunities for GHC as a wholesale broker serving third parties and Marsh’s UK operations, as well as providing underwriting services to the markets and broking and capacity creation for MGUs. Given this focus, it is right that GHC’s other portfolios should transfer to a broker where their value can be better realised as integral constituents of its operations."
ACE appoints Jeremy Cole as Risk Control Manager in UK and Ireland Casualty Risk Engineering Department
ACE has appointed Jeremy Cole as Risk Control Account Manager within its UK and Ireland Casualty Risk Engineering Department.
Mr Cole will work closely with brokers and clients to advise on mitigating losses, preventing incidents and identifying areas for risk management improvements. He has risk management experience in both the private and public sectors.
His role will be geared towards reducing clients’ ‘cost of risk’ and maintaining best practice, ACE said.
Mr Cole spent the last six years as a Casualty Account Manager in risk engineering for Mitsui Sumitomo Insurance. Prior to that he was a Policy Manager at the UK’s Cabinet Office, developing government policy on risk and regulation.
Mr Cole gained his professional qualifications as an HM Inspector of Health and Safety.
Phil Myers, Casualty Risk Control Manager, UK and Ireland, comments: “Jeremy’s skills will further enhance ACE’s offering in the Casualty team. His remit will focus on assisting ACE’s clients in liability risk management, regulatory compliance and claims defensibility. Having worked in both the private and public sectors he comes to ACE with significant experience in occupational health and safety, where he has managed major casualty accounts across a range of industries.”
Joan Lanzagorta joins XL’s Mexican operation
XL’s insurance arm has announced the appointment of Joan Lanzagorta as Client & Distribution Leader for its operation in Mexico.
Mr Lanzagorta joins XL from Chubb where he spent 3 years in Mexico as Chief Underwriter. Before that he worked for approximately ten years as an underwriter with Allianz having started his career as a reinsurance broker with Guy Carpenter.
Bruno Laval, Regional Manager Iberia & Latin America for the Insurance operations of XL, commented: “I am delighted to count on Joan in the role of Client & Distribution Leader. This is a key role to provide high quality service and attention to our clients and brokers and to our goal to achieve profitable growth for our operation in Mexico. Hence this recruitment represents an important strengthening of our local team and highlights our commitment to this market.”
Alvaro Salamanca, XL Group’s Country Manager Mexico, said: “Joan’s underwriting experience, combined with his in-depth knowledge of the market, positions him well to expand our relationships in Mexico. He will also be able to provide valuable support to our brokers as well as our local and global programme clients.”