Cincinnati Global enters new lines of business with Chubb, AEGIS hires

Property/casualty (P&C) group Cincinnati Financial Corporation's London-based global specialty underwriting subsidiary Cincinnati Global Underwriting plans to begin writing two new lines of business - contingency and specie.

The company has hired Francis Hernandez as head of contingency of Cincinnati Global. He most recently headed Chubb's international film & entertainment division.

Ian Seakens will also join Cincinnati Global as head of specie in early 2021. He has 35 years of industry experience in specie and specialty lines insurance. Seakens joins from AEGIS London where he worked for the last 10 years as a lead underwriter in the London market.

Until Seakens joins the company, the specie portfolio will be run by underwriter Charlotte McIntyre, who also recently joined the Cincinnati Global team from AEGIS London.

Contingency insurance covers film and entertainment risks, such as insuring film and TV production for their props, sets, wardrobe and filming equipment; providing peace of mind that productions are completed within budget and delivered on time; and offering event cancellation for tradeshows, conferences, exhibitions, sporting events, theatrical performances, concerts and music festivals.

The specie portfolio includes coverage for theft or loss of high-value portable property including fine art, jewelry, gold bullion and cash in transit.

Cincinnati Global director of corporate development Kevin Timmons said: "We are delighted that Frankie, Ian and Charlotte are joining our expanding team. We have identified Contingency and Specie as historically profitable classes of business through which we can grow and provide excellent service to clients and brokers.

"Following CGU's acquisition by Cincinnati Financial Corporation, we announced our intention to diversify our underwriting through the addition of new specialty classes of business. We believe Frankie and Ian's lead underwriting capability will enable us to meet these objectives and facilitate future profitable growth."