HDI Global Specialty writes €1bn in premiums, appoints CEO
HDI Global Specialty, a creation of a merger of the specialty lines activities of Hannover Re and HDI Global, has appointed its first chief executive and said it underwrote more than €1 billion in premium volume at the start of the year.
Ralph Beutter, formerly CEO of Inter Hannover, has assumed the role of CEO of HDI Global Specialty. Richard Taylor, previously UK managing director of HDI Global, has been appointed to the executive board of management as chief marketing officer, reporting to Beutter.
The company also said it is seeking growth by pursuing “an active strategy identifying new teams, portfolios of business and M&A”.
The insurer, which is owned jointly by HDI Global (50.2 percent) and Hannover Re (49.8 percent), is writing specialty lines including accident and health, aviation, cyber, energy, extended warranty, financial and professional lines, legal expense, marine, political violence and political risk. The company will operate from six of its own offices and throughout the HDI Global network in 150 countries.
Beutter said: “Bringing together our technical underwriting expertise and global footprint provides a strong platform from which to maximise the opportunities that exist within specialty lines. Our values and background mean we are also able to provide certainty and stability as a long-term partner for our clients and offer sustainable products that respond directly to their needs.”
Taylor commented: “This business has been established as a growth engine, leveraging expertise and global distribution with a low-cost base; all crucial factors in delivering profitable specialty lines business. We aim to be the platform of choice for the speciality lines market and we are in a strong position to deliver this.”
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
More of today's news
Brit targets North America with investment in MGU Sutton Special Risk
NAGICO-Swiss Re sign 2019 XoL reinsurance renewal at sea
Neon renews UK ILS property deal using NCM Re
Swiss Re CS launches parametric water-level coverage called FLOW
Benchimol, Grandisson and Driscoll to serve as chairs of ABIR
Liberty Mutual Re hires Hannover Re exec to spearhead underwriting strategy
Argo appoints interim head of Colony Specialty following retirement
CFC expands cyber insurance coverage to include business interruption
