Former Inver Re CEO to chair Placing Platform

Former chief executive of Inver Re Steve Hearn will be appointed as chair of London market digital provider Placing Platform, succeeding Bronek Masojada who will step down at the end of July.

Masojada has served as Chair of PPL since March 2018 and is now chair of Bermuda-based SiriusPoint.

Hearn has previously also been CEO of Corant Global, Ed Broking, and Deputy CEO and President of Willis Group.  He has chaired both the London Market Group and Liiba, two key stakeholding organisations for PPL.

He announced his departure from Inver Re and its parent company the Ardonagh Group last week.

Masojada, the former CEO of Hiscox, said: “It has been a privilege to chair PPL, working with the market to drive adoption with volumes increasing from 12,000 contracts per annum to over 200,000, supporting the market through the pandemic and to the successful launch of the Next Gen platform.  

“I am delighted that such a hugely experienced and well-regarded industry figure as Steve Hearn is willing to step into the role of chair, and he does so at a critical time for the industry, as we move towards becoming a fully digital marketplace.”

Hearn said: “Placing Platform Limited is a unique organisation, the largest digital provider for the London insurance market, non-profit making and owned by the people who use it. PPL exists to help deliver the right digital placement for London, and I am excited to work with CEO Joe Gordon and our market partners, Lloyd’s, the Associations, the Data Council and the Joint Venture; on creating the insurance market of the future – a market that will be better, faster and cheaper.”

“Together, we’re creating one solution for the whole London market, unified around global data standards that will bring efficiency and reduce central processing costs.”