Lancashire’s founder, Richard Brindle is to retire and will be replaced as CEO by Alex Maloney from the end of April.
Maloney has been promoted from group CUO and CEO of the group’s UK subsidiary Lancashire Insurance. Paul Gregory, CUO of Lancashire Insurance will be promoted to group CUO.
Commenting on his depature, Brindle says: “After nine years at the helm of Lancashire I have decided that the time is right for me to retire from the Group. I have piloted the company through its design, creation, launch, establishment as a major player in its sector, business success, delivery of tremendous results to shareholders, and ability to operate nimbly and intelligently in markets both hard and soft.”
“Lancashire and Cathedral's staff represent a bench-strength of talent that is second to none in this market; they share in the equity of the company and in its unique culture of dedicated service coupled with practical acknowledgement of the debt we owe to those less fortunate than ourselves. These considerations allow me to move on in the sure knowledge that the business is healthy and in good shape, as indeed I am myself. I am grateful to my colleagues past and present, and to the many others who have contributed to our success to date."
Alex Maloney, incoming CEO, adds: "It is a great privilege to be given this opportunity. We have had a good start to 2014, and the acquisition of Cathedral last year has bedded in well. I am excited about the prospects for the Group and look forward to continuing to execute our core strategy and to preserving the unique culture that has been an important element of our success."
Lancashire, appointment, insurance, reinsurance