This edition of International People Moves includes appointments at the first sustainable insurer, Parhelion; at brokers Piiq Risk Partners and Gallagher; and at Optio Group’s Nuclear MGA Northcourt.
A summary of these new hires follows.
Howden-Backed Parhelion Appoints Former Ark Exec as Chair
Parhelion announced it has appointed insurance industry leader David Foreman as chair as it prepares to launch the world’s first fully sustainable insurer.
Backed by Howden, Parhelion continues to raise capital to meet its US$500 million target. The group is in discussions on a strategic partnership that will provide equity, a platform and licenses in target territories, including the European and U.S. specialty markets.
Foreman brings to Parhelion more than 45 years of insurance industry experience, including underwriting oversight of four profitable Lloyd’s syndicates. He was a founding member and chief underwriting officer of Ark Syndicate Management Ltd., one of the most consistently profitable syndicates at Lloyd’s.
“To take on a leadership role at the world’s first fully-sustainable insurer was an opportunity I could not pass up; it´s exciting to lead a team focused on setting the standard for what insurers of the future could, and should, look like,” commented Foreman. “From inception, Parhelion intends to lead by placing the environment, people and governance first, thereby proactively responding to current global pressures with unique solutions.”
Parhelion aims to actively promote the UN’s Sustainable Development Goals through its use of new technologies and data to create and enhance ESG insights, products and customer services. This will help to accelerate customers’ ESG transition, improve their risk profiles and, ultimately, support societal ambitions and advance underwriting performance in a truly unique fashion.
A pipeline of new, cutting edge ESG insurance products, which will help to close existing and emerging protection gaps, are ready for launch, the company said. Organizations that make tangible improvements in environmental impact, governance practices, and social and employee policies will be rewarded with higher capacity and potentially lower insurance costs.
Foreman’s underwriting credentials and experience leading one of “the best-performing insurance carriers will be invaluable as we set out to create a different kind of insurer with the transition to a more sustainable and resilient future at the very heart of our strategy,” according to Parhelion Co-CEO Julian Richardson.
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Aerospace Broker Piiq Bolsters European Team With Senior Hire
Piiq Risk Partners, the global aerospace reinsurance broker, has hired Sylvain Devouge as a senior partner. Based in Paris, Devouge reports to Mark Costin, senior partner.
Devouge will work across all aviation industry disciplines, developing re/insurance expertise and tailored solutions, and will be responsible for the drafting and negotiation of re/insurance documentation, contractual risk mitigation and claims advisory.
Devouge brings 15 years of expertise to Piiq, for the last five of which he provided Swiss Re with legal advice on commercial re/insurance contracts as a senior contract specialist. Prior to this, he was head of Marsh France’s aviation contracts and claims team, where he built extensive relationships with large aerospace manufacturers, maintenance, repair and overhaul companies (MROs) as well as airline clients.
About Piiq Risk Partners
Piiq Risk Partners is a global aerospace re/insurance brokerage, with offices in London and the U.S. Piiq is currently part of the insurance operations of BGC Partners and is set to join The Ardonagh Group as part of its acquisition announced in May 2021 (which is subject to regulatory approval). The Ardonagh Group is the UK’s largest independent broking group and a top 20 broker globally.
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Gallagher Expands Aerospace Team With Senior Recruit From Etihad
Gallagher has appointed Martin Rossiter as partner in its aerospace practice. He will be focused on the further evolution of Gallagher’s industry value proposition and will be supporting clients with their wider risk management needs.
Rossiter has an extensive background of more than 35 years in aviation risk spanning both insurance market and industry roles. He joins Gallagher from Etihad Airways where he spent the last five years as head of group insurable risk management delivering solutions and services to protect Ethiad’s assets, liabilities and human capital in line with corporate strategy.
Prior to this, he was head of aviation underwriting and industry proposition for Generali Global Corporate & Commercial, following senior broking and consulting roles at Aon and Sedgwick.
Gallagher is one of the leading providers of insurance and risk management advice to the aerospace industry through its 370 strong team, with a client portfolio which covers all aspects of the aerospace industry.
Gallagher is the brand name of Arthur J. Gallagher & Co., the global insurance broker, risk management services and consulting firm headquartered in Rolling Meadows, Ill. With operations in 57 countries, Gallagher offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
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Optio’s Nuclear MGA Northcourt Names Tetley as MD
Optio Group’s Nuclear MGA Northcourt, the specialist nuclear MGA recently acquired by Optio, announced the appointment of Mark Tetley as managing director, effective immediately. He will be based in London and report to Northcourt CEO Alan Rickett.
With extensive underwriting and broking experience, and having developed nuclear programs for Russia, Ukraine, Romania, Slovakia, Czech Republic, Bulgaria and China, Tetley is recognized as a leading expert in the nuclear insurance field.
During his career he has served as managing director of the UK’s nuclear insurance pool, Nuclear Risk Insurers Ltd., assisting the government with changes to the statutory nuclear liability legislation required by amendments to the 2004 Paris Convention.
Tetley has also been an expert representative of the international nuclear insurance industry at the Nuclear Law Committee of OECD’s Nuclear Energy Agency in Paris and is a lecturer at the International School of Nuclear Law. Recently, Tetley was engaged by the European Commission to lead a study on the insurance, private and financial markets in the field of nuclear third-party liability.
“Mark understands not only the intricacies of the risks faced by nuclear facilities but has for many years led and been involved with the bodies that represent them at the highest international and governmental levels,” commented Rickett.
“With the minimum required liability limits for nuclear institutions set to rise dramatically in January 2022, Optio acquired Northcourt in April to not only capitalise on the growth potential this creates, but substantially change the dynamics of the nuclear insurance market,” according to Optio CEO Matthew Fosh.
“Mark’s joining represents a significant step toward realizing that ambition as, quite simply, there are very few people in the world with specialist knowledge to rival his,” Fosh added. “As governments look to nuclear energy to help decarbonize their economies and meet ambitious net zero targets, Mark’s expertise combined with that of the existing team places Optio at the forefront in meeting the changing needs of the nuclear industry.”
About Optio Group
Optio brings together the specialist expertise of Cove Programs, Ascent Underwriting, Bay Risk Services and Northcourt to create one of the largest independently owned specialty MGAs, managing in excess of $250 million gross written premiums.
Topics Carriers Maryland Insurance Wholesale A.J. Gallagher Aerospace
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