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Richard Foster previously worked at Agile Risk Partners and Zurich.
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The new recruit will be head of international war and terror underwriting and work alongside Quentin Prebble. -
The CEO says an examination of the unlimited guarantee could result in a split of conventional cover from events such as biological or nuclear attacks.
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The move follows the departure of two senior PV specialists to ERS.
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Hannover Re and Fidelis provided significant capacity on the Munich Re-led programme.
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ARPC said the move improves the pool’s capital strength.
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The A$14bn pool will switch brokers on 1 April.
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The political violence specialist leaves after almost three years.
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Sources warn further unrest is possible and anticipate rising demand for SRCC and even full political violence cover.
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The motor syndicate is undergoing a major strategic expansion into other specialty lines.
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The former RiverStone CUO joins at a moment of inflection in the line after years of softening conditions.
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Rates on open market business are flat to 10% up, which could place increased scrutiny on broker facilities.
