Fidelis enters D&F market, appoints senior underwriter

Bermuda-based re/insurer Fidelis has appointed Michael Davern as a senior underwriter. He will lead the growth of Fidelis’ direct and facultative (D&F) writings based in the London office, while working closely with colleagues in Bermuda. He joins from AXA XL where he spent over 10 years, most recently as an underwriting manager writing open market and delegated authority business.

Richard Coulson, UK CUO and executive head of bespoke & specialty at Fidelis said: “I am delighted to welcome Michael as Fidelis continues to build its specialty capabilities. D&F is an area where significant capacity has been removed from the market allowing a pricing correction and creating a strong demand for new participants. We are very focused on being responsive to brokers and clients and believe Michael is the right person to lead the continued growth of this product line for us.”

Richard Holden, executive head of reinsurance, added: “We feel this is the right time to enter the direct and facultative market, utilising Bermuda and London brokers to access business. Michael brings 15 years of industry experience and market relations to Fidelis and we look forward to building another long-term class of business to complement our existing lines within the Fidelis group.”

Davern said: “I am excited to join Fidelis, at a time when Fidelis can offer solution for brokers’ and clients’ need for capacity. Given their reputation for client service and that they have a true underwriting philosophy at their core I look forward to growing the direct & facultative property book and contributing to Fidelis’ ongoing success.”