Novae expands crisis management team with TMK hire

Novae Group, a specialist listed Lloyd’s insurer, has appointed Kieron Russell as a senior class underwriter, crisis management.

Russell is based in London and reports to Richard Lamb, unit head, political and credit. He joins the firm from Tokio Marine Kiln (TMK), where he spent six years as an underwriter within its enterprise risks division. Prior to this he was a senior vice-president at Paragon International Insurance Brokers where he helped expand the organisation’s capability into new classes. He has also held roles at Miller Insurance and Heath Lambert.

Before entering the Lloyd’s market in 2004, Russell was head of events and fundraising for The British Forces Foundation and spent nine years as an officer in the British Army.

Russell said: “A series of high profile incidents have demonstrated the need for appropriate crisis management measures for businesses across the globe. However the cost of implementing the necessary steps to mitigate against these risks has also increased dramatically and there is a clear need for products that can help businesses alleviate the potential impact of crises.

“Novae’s nimble and agile approach means we can capitalise on the opportunities within the market and I am looking forward to developing this offering.”

John Owen, divisional head of marine, aviation and political risk, added: “Our strategy is to build market leading capabilities and we have identified crisis management as a key class. Kieron is an experienced underwriter of a range of esoteric products and his expertise will ensure we build a powerful offering in this specialist area of the market.”