Accredited tap Fidelis for CRO

Accredited Insurance Holdings has added a former Fidelis Insurance senior executive to its leadership team.

Neil McConachie has been appointed as chief risk and capital officer. He was previously group chief financial officer (CFO) of Fidelis Insurance and group president of Lancashire, where he also held CFO and CRO roles. McConachie has been a member of the founding management teams of Fidelis, Lancashire and Montpelier Re, all Bermuda-based companies.

He will join on October 14, based in Accredited’s London office. He will report to William Spiegel, chief executive officer (CEO) of Accredited.

McConachie’s appointment follows the appointment of Stuart McMurdo who will join Accredited on October 1 as president of Accredited UK & Europe.

Spiegel, CEO of Accredited, commented: “I have had the pleasure of working with Neil at Montpelier Re, Lancashire and Fidelis. His track record as a leader in growing insurance companies means he will bring valuable experience to Accredited as we continue our strategy to be the independent global programme partner of choice. Neil has spent much of his career in underwriting-first businesses, and his expertise is a strong fit for Accredited given our focus on rigorous underwriting standards and risk management.”

McConachie, incoming chief risk and capital officer, Accredited, said: “I’m proud to be joining the best programme manager in the market and once again working with William, who I’ve known for over 20 years. I’m excited to help bring enhanced sophistication to risk management and capital optimisation across the Accredited group.

“I have been impressed by Accredited’s success in building a well-diversified insurance portfolio, and its partner MGAs’ strong performance has attracted a blue-chip reinsurance panel. I believe Accredited is well-positioned for success with an experienced management team, strong operational platform, robust capital base, supportive long-term ownership, and the ability to work with partners across the US, UK and Europe. I’m looking forward to getting started.”

Accredited was bought by Onex for $430 million from R&Q Insurance Holdings earlier this year.

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