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The appointment comes after Sarah McGurk resigned to join Aviva. -
Increased competition is shifting market dynamics after a transformation in rating conditions.
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The new recruit will join Julian Samengo-Turner’s Middle East and Africa team.
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Staff movement in the line of business has remained high amid firm market conditions coming into 2022.
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The executive has more than 25 years’ experience working in banking and asset management.
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New markets have reset the balance between supply and demand in the market.
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The hire follows the addition of former Berkshire Hathaway executive Michael Densham to expand the MGA’s Canadian operations.
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The carrier has been rebuilding its D&O team after a number of staff left to launch new books of business.
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In his new role at the specialist D&O MGA, Densham will report to Banyan founder and CEO Tim Usher-Jones.
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Plus, the latest executive moves in the sector and all the top news of the week.
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The market was divided about the outlook for 2022, with some predicting a substantial reduction in rates.
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Insolvencies are a key source of claims but have been prevented by government support measures during the pandemic.
