Fidelis hires senior direct and facultative underwriter

Michael Davern has joined Fidelis Underwriting as a senior underwriter.

Davern joins as part of the group’s broader efforts to build up its specialty capabilities, and leads the growth of Fidelis’ direct and facultative (D&F) writings. He is based in London but works closely with colleagues in Bermuda.

He joins from AXA XL where he spent over 10 years, most recently as an underwriting manager, writing open market and delegated authority business.

Richard Coulson, the UK chief underwriting officer and executive head of bespoke and specialty at Fidelis, noted that significant capacity has been removed from the market in the D&F business, which has triggered a pricing correction and created a strong demand for new participants.

“We are very focused on being responsive to brokers and clients,” he added.

Richard Holden, executive head of reinsurance, said: “This is the right time to enter the D&F market, utilising Bermuda and London brokers to access business.”

Davern highlighted Fidelis’ reputation for client service and the “true underwriting philosophy” at the company’s core as motivations for making the move.