Neon boosts political and credit risk unit

Specialist Lloyd's insurer Neon has expanded its political and credit risk team with hires from Chubb, Gallagher and Euler Hermes, across underwriting and credit analysis, and entry into financial guarantee.

Paul Barrett is the third in a string of hires for Neon’s political and credit risk team as it looks to expand its offering. Arriving from Arthur J Gallagher, Barrett joins Anthony Vaughan, senior credit analyst, and Paul Carrington, underwriter, both of whom joined in late 2017.

Carrington previously worked at Chubb and Euler Hermes, while Vaughan was previously senior credit analyst at Sumitomo Mitsui Banking Corporation.

In addition to the new hires, Neon’s political and credit risk team has broadened its offering to include financial guarantee and increased tenors for existing products.

Darren Lednor, chief underwriting officer at Neon, said: “Last year, we significantly strengthened our capabilities and this momentum has continued into 2018. Our expanded team now offers a greater breadth of coverage with the addition of Financial Guarantee and increased tenor length across a number of products. These changes allow us to provide long-term support to clients in a constantly evolving global political and economic environment.”

Martin Reith, group chief executive at Neon, added: “The development of our Political & Credit Risk team and appetite aligns with Neon’s refreshed underwriting strategy of offering bespoke solutions that go beyond traditional parameters. We look forward to working with our clients to deliver these over the next 12 months and beyond.”

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