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The executive replaces Karl Hennessy, who left to join McGill & Partners.
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Lloyd’s remains the MGA’s largest capacity provider.
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If I told you that it was possible to underwrite a cyber policy with one single piece of data, I’d wager that you’d either laugh in my face or tell me I was mad.
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The transaction cements an earlier underwriting relationship.
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The executive, a former Lloyd’s Asia Pacific president, joined the MGA with its acquisition of Huntington last year.
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UK SME MGA Aspen Risk Management Limited will go into run-off, and account for the lion’s share of 140 job losses. -
The syndicate’s founding active underwriter Peter Mills is also set to leave the business, as partnership is agreed.
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Endeavour Capital and K2 co-founder Pat Kilkenny will retain the MGA platform's Aegis Security Insurance arm.
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The MGA has hired Becky Steel and Dan Moorcraft to launch the new product.
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Andrew Matson and Miles Shephard will run the revamped unit as CEO and executive chairman, respectively.
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The size of the capital raise for the Bermuda-domiciled vehicle, which is 50:50 between the two partners, was not announced.
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The San Diego-headquartered insurer will take advantage of the MGA’s network of equine specialists.
