Munich Re subsidiary appoints Horizon founder as NED

Beaufort Underwriting Agency, the Munich Re owned Lloyd’s managing agent (MGA) for MSF Pritchard Syndicate 318, has appointed Richard Pexton to its board as a non-executive director (NED)

Pexton will succeed Richard Carter, subject to Lloyd’s approval, as chairman in June upon his retirement.

Pexton is also the founder and chairman of Horizon., a specialist mid and high net worth underwriting agency and coverholder for Brit Global Specialty Syndicate 2987. He brings 37 years’ senior management and underwriting experience to Beaufort.

Prior to establishing Horizon, Pexton served as chief executive officer of Omega Insurance Holdings and was instrumental in its sale to top ten Lloyd’s managing agent Canopius in 2012.

“Richard joins us with a wealth of insurance and reinsurance expertise and I am delighted to welcome him to the board,” said Arthur Hoffmann, managing director, Beaufort.

“His senior management experience and impressive industry accomplishments will be of considerable benefit to us, and we look forward to working with him as we further develop our business.”