People Moves: Arch Insurance International Promotes Penberthy to CFO; Price Forbes Singapore Names Coates as Chief Broking Officer

This edition of International People moves details appointments at Arch Insurance International and Price Forbes Singapore.

A summary of these new hires follows here.

Arch Insurance International Promotes Penberthy to CFO

Arch Insurance International announced the promotion of Marie Penberthy to the position of chief financial officer, subject to regulatory approval.

As CFO, Penberthy will be responsible for the finance function, including accounting, financial planning and analysis, and reporting. Based in London, she will report to Hugh Sturgess, president and chief executive officer of Arch Insurance International.

Penberthy joined Arch Insurance (UK) Ltd. in 2022 as a financial controller before becoming CFO of the UK operations in December 2023. Previously, she was corporate financial controller at Talbot Underwriting, and during her 22-year career has held several senior financial roles exclusively in the insurance industry.

Her appointment forms part of Arch’s succession planning strategy and follows the departure of Jason Kittinger from the role.

Arch Insurance International is part of Bermuda-based Arch Capital Group Ltd. and includes Arch Insurance UK and the P/C insurance operations of Arch Insurance (EU) dac, as well as Arch’s insurance operations in Europe, Bermuda and Australia.

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Price Forbes Singapore Names Coates as Chief Broking Officer

Julian Coates has been appointed chief broking officer for Price Forbes Singapore as the specialty broker seeks to build-out and further grow the business.

Coates joins from Marsh-owned Honan Asia, where he was CEO and executive director for the business.

In his new role he will be responsible for developing Price Forbes broking strategy in AsiaPac, setting the agenda for broking excellence across the business and support the overall business growth agenda.

Coates has also held senior positions at Aon, Miller and Lockton.

The role, which is based in Singapore, is part of significant investment from Price Forbes into the region and supports Price Forbes’ aim to become the region’s preeminent specialty broker and industry leader.

“I’m excited to join Price Forbes and the wider Ardonagh Group. Price Forbes reputation as a leading independent insurance distribution platform, combined with the team’s extensive experience and commitment to innovation, aligns perfectly with my own professional goals and values,” commented Coates, who has more than a decade of experience in the Asian market.

“I’m very much looking forward to connecting with the business across major global broking hubs and I can’t wait to meet the teams and stakeholders to identify more opportunities for growth which serve the unique needs of the Asian market.”

Price Forbes is part of Ardonagh Specialty, an independent specialty broker in the London market.