20 November 2015 Insurance

Senior management line-up at Talbot reshuffled

Validus has made a number of changes to the senior management line-up at its wholly owned subsidiary, Talbot Underwriting.

Rupert Atkin, the chief executive officer of Talbot Underwriting, will step down at the end of February 2016. Talbot’s managing director, Peter Bilsby, will succeed Atkin as CEO in March.

Atkin will then take up the position of chairman of Talbot, succeeding Michael Carpenter who will remain as a non-executive director and a member of the Validus board of directors.

Atkin launched Syndicate 1183 in 1991 and was appointed director of underwriting at Talbot in 2001. Following the sale of Talbot to Validus in 2007 he became CEO.

Bilsby joined Talbot as head of global aerospace from XL London Market in September 2009 and served as director of underwriting until his appointment as managing director in November 2013.

Carpenter joined Talbot in June 2001 as CEO and was appointed chairman following the sale of the business to Validus in 2007. He joined the board of Validus in 2012 and is the chairman of the Validus group audit committee.

Talking about Carpenter’s decision to step down from his role as chairman, Atkin said his superior thought it was the right time for him to take on the role.

“He (Carpenter) wants me to succeed him,” said Atkin.“He’ll remain on the board and Validus’ board. He can see the time is right for me to hand over to Peter and he’s keen I should become chairman.”

Atkin also explained that the changes in management will not lead to any sudden changes for the firm.

“We have no plans to make any sudden changes to the make-up of the portfolio, although there will be tweaks around the edges, depending on the opportunities that arise,” he said.

Ed Noonan, chairman and CEO of Validus, added: “Rupert Atkin has overseen Syndicate 1183’s progression since inception and Talbot’s growth for the past eight years, building it into an important part of the Validus Group.

“Through Rupert, we have been able to expand our services and global presence, and we have a fantastic platform for continued growth and success.

“The board and staff of Validus thank him for his exceptional contribution and years of service, and we are delighted that he will take on the role of chairman of Talbot so that the company will continue to benefit from his expertise.”

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