Fidelis takes stake in new MGA
Fidelis unveils management changes
Fidelis Insurance Holdings is planning to establish a re/insurer in Ireland in a bid to take advantage of opportunities in the European Economic Area.
According to Fidelis, its new subsidiary Fidelis Insurance Ireland has gotten permission from the Central Bank of Ireland to write bespoke and specialty insurance and reinsurance.
Colm Lyons, who was previously chief excess casualty officer at XL Catlin’s Dublin office, has been appointed chief executive officer (CEO) and chief underwriting officer of Fidelis Insurance Ireland.
Prior to XL Catlin, Lyons held progressively more senior roles in broking and underwriting at Marsh Ireland, Axis Re, Willis Re and Allied World Assurance Holdings.
Robert Kelly has been appointed chief financial officer of Fidelis Insurance Ireland. Kelly joins Fidelis from PartnerRe Ireland Insurance where he was CFO, head of external reporting Europe and group International Financial Reporting Standards. Prior to PartnerRe, he held roles at FFH Management Services (part of Fairfax Group), Aviva, and PwC.
Alistair Brown joins as group claims manager & head of insurance operations, Ireland. Brown was most recently head of specialty lines claims for the combined AXIS International entities, having held increasingly more senior roles within the claims function at AXIS since 2005.
James Brennan takes the role of compliance/risk manager, joining from Hiscox, where he was head of group compliance. Prior to that Brennan held management roles in internal audit at Hiscox and Brit Insurance.
“I am very pleased with the calibre of talent that we have attracted with Colm, Rob and the rest of the team,” commented Richard Brindle, CEO of Fidelis. “Our Dublin office provides the certainty to our clients and brokers that we will continue to operate in the EEA irrespective of Brexit, and that there will be continuity of service on our agreements. This is an important piece of our four-pillar strategy, ensuring that we can continue to grow our Continental book, particularly in specialty and bespoke insurance including our MGAs.”
“I am delighted to join the Fidelis team,” said Lyons. “Fidelis’ underwriting expertise and clearly defined strategy, together with its ability to nimbly respond to market opportunities, distinguish it from its peers. I look forward to contributing to Fidelis’ success.”
Fidelis, Insurance, Ireland, subsidiary, Europe, EEA