Dale Partners Ltd. Gets Regulatory Nod to Launch Lloyd’s Managing Agency

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Dale Partners Ltd. (DPL) announced it has received approval from the UK Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) and Lloyd’s to launch its managing agency, Dale Managing Agency Ltd.

DPL also announced it has appointed four independent non-executive directors (NEDs) to join the board of Dale Managing Agency board.

“This is fantastic news and a major milestone in the development of Dale Underwriting Partners,” said Duncan Dale, chief executive. “It has always been our long-term goal to establish our own managing agency to give us the independence and accountability for the strategy, execution and governance of the business. Naturally, I would like to thank our amazing team. Their hard work, dedication and resilience have brought us to this point.”

Dale thanked the team at third party managing agency Asta “for their tremendous support for the past nine years.”

The four new NED members of the board are:

John Hastings-Bass is chair of the board. Hastings-Bass is also chair of Just plc and BMS Group. His prior appointments include: director of JLT Group, chair of International Development for A.J. Gallagher and chair of Novae Group Plc.
Heather McKinlay is chair of the Audit Committee. McKinlay is currently also a NED for Antares Syndicate Management Ltd. and trustee of RedR UK, a humanitarian charitable organization. McKinlay has more than 20 years of experience in contributing to businesses of various sizes, specializing in the transformation and development of finance functions in previous CFO and executive director roles in the non-life insurance sector.
Alan Grant is chair of the Risk Committee. Grant is currently also a NED for Oneglobal Insurance Brokers Ltd. Grant’s prior appointments include: chair of the Risk Committee at Thomas Miller Holdings Ltd. and chair of the Risk Framework and Compliance Committee of Argenta Syndicate Management Ltd.
John Hume. Hume is the former chair of XL Re Europe. He has more than 35 years’ experience in financial services companies, providing strong guidance on finance, business strategy, operations and culture and successfully leading large transformation projects.

Duncan Dale, Dominic Peters (active underwriter) and Carol McCarthy (finance director) also are joining the Dale Managing Agency Ltd. board.

Dale Underwriting Partners is an independent, owner-managed underwriting business that began trading from Jan. 1, 2014 with the formation of Lloyd’s Syndicate 1729.

Source: Dale Partners Ltd.