Pardus launches contingency business with Markel exec

Pardus, the London-based independent managing general agent (MGA), has expanded its underwriting capabilities with the launch of a contingency facility backed by Lloyd’s security and led by XL Catlin.

Wayne Paternoster has been appointed as contingency underwriter, who will take the charge of overseeing Pardus’s underwriting activities and exploring future opportunities in line with the strategy of developing a multi-lined MGA based in London. He will also be a part of company's executive management team.

Paternoster has over 20 years of underwriting experience. He joins Pardus from Markel International, where he most recently was the divisional managing director of the specialty unit in London.

Keith Thompson, chief executive of Pardus, said: “We are delighted to have secured the services of such a highly-regarded and talented individual in Wayne. He brings a wealth of experience to Pardus and he will be very much part of the management team growing existing business lines and identifying new opportunities that we can bring to the market.

"We have steadily grown the business over the past two years in what continues to be a very challenging and highly-competitive market place.”

Since its launch, the company has developed underwriting products covering forestry, trucking, property, property facultative and accident and health.

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