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Lancashire sets out succession plans

01 September 2016 15:30

Lancashire Holdings has announced succession plans for the active underwriter roles of Syndicates 2010 and 3010 at Cathedral Underwriting.

John Spence, a senior aviation underwriter at Syndicate 3010, will be appointed as active underwriter for Syndicate 3010 with immediate effect (subject to Lloyd's and relevant regulatory approvals).

Jon Barnes, who is due to join Cathedral from Syndicate 2121 (where he is the deputy active underwriter) to lead the underwriting of the property treaty reinsurance account for Syndicate 2010, is to be appointed as the active underwriter for Syndicate 2010 early in 2017. His appointment also remains subject to Lloyd's and relevant regulatory approvals.

With these appointments, Richard Williams will step down from the role of active underwriter for the two syndicates. Williams will continue in his role as active underwriter for Syndicate 2010 pending Barnes's appointment in early 2017, and will work with Cathedral's managing director, Marion Madden, Spence and JonBarnes to implement the succession plans during the course of the coming year.

Lancashire Group chief executive Alex Maloney said: "I would like to thank Richard for having stepped into the role of active underwriter earlier in the year during a time of change within the Cathedral business.

"Richard has been instrumental in helping us make a number of exciting appointments during 2016, and these have helped build the bench strength of the underwriting team at Cathedral.

"I would also like to congratulate John and Jon on their new roles and I look forward to working with them during the course of the coming year in taking the Cathedral business forward. We believe that the appointment of a designated active underwriter for each of the Cathedral syndicates will further enhance arrangements for strategic planning and the management of our Lloyd's operations."

At 3:30pm: (LON:LRE) Lancashire Holdings Ltd share price was +10p at 641p

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