11 September 2015 Insurance

Pioneer lures XL Catlin execs; launches new division

Pioneer Underwriters, a subsidiary of Minova Insurance, has appointed two former XL Catlin executives to launch a professional liability division.

Dan Cleary and Nick Chen have been appointed vice presidents of the division which will focus on securities broker-dealers. The team will initially target the US retail financial services market.

They will both report to Gary Dubois, president of Pioneer Special Risk (PSR), based in New York.

Cleary and Chen join from XL Catlin’s select professional division, having previously worked together at NY Magic, now part of ProSight Specialty.

Dubois said: “We’re very excited to have Dan and Nick as part of our growing team. Their highly focused skill set will fit perfectly within the PSR framework and is a great complement to our existing specialty classes of business.”

Cleary added: “Securities broker-dealers, their registered representatives and related professions, such as investment advisors, require complex and highly responsive solutions to meet their insurance needs. PSR’s well equipped and flexible operational platform will allow us to address these needs.”

Chen said: “The technical underwriting and service orientation of PSR is attractive to talented underwriters looking to build a successful practice. I look forward to building a leading book of business in the securities broker-dealer field on the PSR platform and contributing to Pioneer’s existing reputation for service excellence.”

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