Hyperion’s DUAL reshuffles leadership; brings in Pioneer founder to seek growth
DUAL, the underwriting arm of Hyperion Insurance Group, has overhauled its leadership team hiring a new chief executive. It said the move has been prompted by a desire to grow in the UK and internationally.
Darren Doherty, formerly CEO of Pioneer Underwriters, a business he founded in 2011, has joined as vice chairman and commercial director. He will also be chairman for DUAL, USA.
David Ibeson, CEO of Apollo and non-executive director of DUAL, has been appointed as chairman of DUAL. Richard Clapham, group CUO and CEO of UK and Europe, has been made group CEO of DUAL. Both appointments are effective from October 2018.
Ibeson will replace Clem Booth as chairman allowing Booth to focus on his role in Hyperion, including becoming chairman of its remuneration committee from July.
“The last three years have been transformational for DUAL under Clem’s chairmanship," said David Howden, CEO of Hyperion. "DUAL’s success has always been about the quality of its people and so it’s fantastic that Darren has chosen to join us, and that David has agreed to be DUAL’s Chairman.
“Their commitment and confidence in DUAL is clear evidence of the strength of the business and its potential. Darren’s extensive experience and energy will bring additional drive to DUAL’s expansion plans both in the UK and internationally. And I am confident that David’s insight and experience will be invaluable as he leads DUAL through its next stage of growth. ”
Howden added: “I've really enjoyed working with Richard over the last few years and there is no one better positioned to take on this global role. He has been instrumental in delivering positive change at DUAL and has also contributed significantly through his membership of the Hyperion Group Executive Committee. I couldn’t be more delighted about this well-deserved appointment.”
Clapham commented: “Our goal is to attract the best people in the market and I'm looking forward to welcoming Darren to DUAL. His perspective will contribute considerably to our global growth strategy. And of course, having worked with David Ibeson over the last 10 years, I'm also extremely delighted that he has accepted this key role with us.”
Ibeson said: "Over the last two years on the DUAL board, I have seen the business go from strength to strength through key leadership team appointments and significant investment in the operating model. Darren and Richard’s impressive collective experience combined with that of the existing team greatly enhances DUAL’s greatest asset: our ability to deliver fast, competitive and cost-effective distribution. Our single-minded focus continues to be on developing a market-leading model that delivers sustainable products for the benefit of our clients, our capital providers and the underwriting team."
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