Aegis London

The Applied Underwriters unit has been building out its product base in the London market.

The company booked profit for the year of £247mn, up 20% on the prior year.

Seven team members are set to exit, including team lead Cooke.

New entrants in the cargo space have caused another round of talent displacement.

Head of portfolio solutions Richard Palengat will lead the division.

Syndicate 318 has been expanding into specialty classes over the past few years.

The executive said that with a single platform and capital base, the company had few distractions.

Listen in as Aegis London CEO Alex Powell discusses how to underwrite profitably through the cycle, the carrier’s growth in the cyber market, and the company’s future strategy.

The firm has hired from Probitas, Tamesis Dual and Aegis for the cells.

It has appointed Daniel Johnson and Lydia Lambert to run the book.

The 'particularly strong' result is due to minimal cat loss activity.

Kevin Leach was formerly The Hanover Insurance Group’s financial institutions leader and VP.