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Experienced brokers Matthew Sinclair and David Pratt-Sinclair are to head up the new division. -
The exit in London comes at a time of wider market discussion around the adequacy of cat pricing.
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Elizabeth Grima will run the new wholesale unit with Tom Malcolm.
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The broker expects a slowdown in price rises to continue for the rest of the year.
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The underwriter, who used to head up D&O at Starr and Barbican, will lead an expansion into the class at the professional indemnity MGA.
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Increased disclosures being released by companies heighten the risk of inaccurate or misleading statements.
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Staff movement is high in the D&O market as carriers look to capitalise on buoyant market conditions.
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The nature of the hire demonstrates the level of competition for top talent in the sector.
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Staff movement in the D&O market remains high as carriers battle to secure top talent in a hard market.
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The start-up carrier has already appointed several Hiscox staff to build out its financial lines operation.
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Convex has been building out its FI team, which is headed up by Allison Hollern.
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The ratings agency warned that underlying loss activity remained high and new threats are emerging.
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