DARAG looks to Beazley for new chief risk officer

European legacy acquirer  DARAG Group has appointed a new group chief risk officer (CRO) from specialty insurer Beazley.

Andrew Pryde (pictured) joins DARAG on Monday, February 28, from Beazley, subject to regulatory approvals, reporting to group chief executive officer Tom Booth.

Pryde has held the chief risk officer role at Beazley for more than ten years, responsible for risk management, capital modelling and exposure management frameworks, as well as undertaking transactional own risk solvency assessments to support decision making. At Beazley, he was also an executive director and board member of the group’s main insurance undertaking, Beazley Furlonge. Pryde has held roles at BHI Digital LLC and Lodestone Security LLC, where he was chairman of the board.

He joined Beazley as group actuary in 2005 from PricewaterhouseCoopers (PwC), where he gained nine years global insurance and reinsurance industry experience whilst also developing and implementing the marketing strategy for the insurance actuarial department.

Booth said: “We are delighted to bring Andrew on board to further strengthen our risk management capabilities throughout DARAG Group. He has vital global experience in enterprise risk management, capital modelling and exposure management, coupled with excellent commercial awareness, as well as holding strong relationships with regulators. He adds strength in depth to our senior team as we continue to focus on operational efficiency and offering the best possible legacy solutions to our clients.”

Pryde commented: “I am thrilled to be joining the executive management team at DARAG. I have been particularly impressed with the skill and expertise of everyone I have met and by the Group’s collegiate and inclusive culture that Tom has cultivated.”

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