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Ark Syndicate Management completes its Casualty Reinsurance team
London - 29 October 2007 – Ark Syndicate Management completes its Casualty Reinsurance platform with the addition of David May as Head of Casualty Re, and Andrew Aldwinckle as a Senior underwriter, both from Aspen Re.
David and Andrew join Senior underwriter Simon Humphries at Ark to position the company’s platform in the Casualty Re line for 2008. The team will seek to write a broad spectrum of General and Employer’s Liability, Professional and Financial Lines and Motor risks across geographies using their expertise in the UK, Australasia, Asia, mainland Europe, USA, Canada and the London Market. The team will have access to around 20% of Ark’s 2008 stamp capacity with an ability to write quality sized lead line deals for the right risks.
Looking ahead to 2008, David May said:
“Andrew and I have worked together for nearly 12 years and are joining with Simon who has enormous experience. We have a collective market underwriting experience of nearly 90 years. We have the knowledge, skills and technical backup to provide a first rate, highly responsive service to the producing broker community and their client base.
The outlook for Casualty Re in 2008 is challenging but we intend to bring rigour, stability and protection to our chosen lines and are well positioned to adapt within a changing pricing environment. “
Speaking of the appointments, Ian Beaton, CEO said:
“Our philosophy at Ark is to bring together the best possible people across a balanced and diversified portfolio to develop our business in a sustainable and profitable way. We have made solid progress in 2007, building out a consciously diverse portfolio with 9 separate business units and establishing our platform in the market.
I am delighted that we have been able to bring together such a strong team to launch our Casualty Re platform which will be one of the largest classes for the syndicate, and I look forward to working closely with them as we continue to develop our business in the year ahead.”
For further details contact: Matthew Newton or Alex Simmons at Finsbury – 020 7251 3801
Notes to Editors:
David May, Head of Casualty Re at Ark was previously Head of Casualty Reinsurance at Aspen, a post he held from the company’s formation in 2002. Prior to this his career spanned various insurers until he joined Munich Re in 1986, where he took over the management of the reinsurance portfolio for their UK branch in 1990. He left to join Wellington in 1995 and became an Underwriting Partner at their Syndicate 2020. He has 40 years underwriting and broking experience. David is the Deputy Director of Underwriting for Ark, and will concentrate on London Market and Australasian risks.
Andrew Aldwinckle, senior Casualty Re underwriter at Ark joined Wellington Syndicate 51 in 1994 after studying at Oxford University. A period on the property treaty account was followed by a move to the casualty treaty side of the business where he stayed for the last 12 years, including the transfer to Aspen Re with the team in 2002. He provides significant technical input to the modelling process, and his focus is on London Market clients, together with Canadian, UK, Caribbean and Europe.
Simon Humphries, senior Casualty Re underwriter at Ark started in insurance in 1971 with Sun Alliance underwriting Motor and Fire business then spent 12 years in Brussels underwriting Facultative reinsurance business for Unat-Re, an AIG subsidiary, before returning to the UK where he was for 20 years in charge of the Liability Treaty account for Allstate Re and, subsequently, QBE. His focus will be on professional and financial lines worldwide.
About Ark Syndicate Management Ltd.
Ark Syndicate Management Ltd (‘ASML’) is a Managing Agency at Lloyd’s. It was established in March 2007 to support a new syndicate underwriting a diversified and balanced portfolio of reinsurance and insurance business including marine, energy, property and casualty lines. Ark trades as Syndicate 4020 at Lloyd’s.
ASML’s parent company, Group Ark Insurance Holdings Ltd, is based in Bermuda. The company has capacity to write £114m of business in 2007 and will seek to expand in a sustainable manner in 2008.
Ark benefits from Lloyd’s financial strength ratings of A+ from S&P, A+ from Fitch, and A from AM Best.
Ark is backed by a private equity consortium led by Aquiline and includes Lehman Brothers, Swiss Re, and Whittington.
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