Pioneer launches financial institutions offering

Pioneer Underwriting has launched a financial institutions (FI) offering with the appointment of Simon Holt as financial institutions underwriter.

Underwriting capacity for Pioneer’s FI offering will be provided by Lloyd’s market carriers as well as Incidental Syndicate Number (ISN) 1980.

It will be focused on the global fund management industry together with some additional financial institutions, although specifically excluding large banks. The initial maximum line size will be £10 million.

Prior to joining Pioneer, Holt was product manager, financial institutions at Travelers, a position he held for 5 years.

Darren Doherty, Pioneer’s chief executive officer, said: “I am excited to welcome Simon to launch Pioneer’s Financial Institutions underwriting capability. His knowledge of the market and existing relationships will play a key part in positioning Pioneer as we grow as a market leader in the provision of specialist financial institutions business.”