Paul Gregory to take on interim CEO role at Lancashire Capital Management

Paul Gregory to take on interim CEO role at Lancashire Capital Management

Paul Gregor, the Group Chief Underwriting Officer of specialty insurance and reinsurance group Lancashire Holdings, is stepping in to end up being interim CEO of the companies Lancashire Capital Management system, as Darren Redhead will leave the firm in 2022. It recently emerged that Darren Redhead, the CEO of the companies Lancashire Capital Management (LCM) system, its third-party capital collateralised reinsurance underwriting arm, is to leave, with Howden the location.
However, reflecting the core significance of the Lancashire Capital Management (LCM) system and its method to the more comprehensive group, among the senior leaders of the business is set to take on the function for a shift period, until a new CEO can be hired.
Speaking today during Lancashires third-quarter profits call, Group CUO Paul Gregory validated that, “Yes, Darren will be leaving business in 2022.”
He continued to state that, “Our technique for LCM remains the same, it is a basic part of the group and the group technique.
” Im actioning in on an interim basis as the CEO of LCM and will be supported by the existing LCM team and the broader Lancashire reinsurance team, which has likewise constantly supported LCM.”
Gregory further stated that, “The focus at the moment obviously is, were in the middle of fundraising for the 1st of January renewals.”
However looking further ahead Gregory acknowledged that a new CEO will be sought for the LCM unit, with the medium term plan being to hire in a replacement for Redhead on a permanent basis.
Lancashire Capital Management (LCM) underwrites a reasonably unique and specialised collateralised and multi-class reinsurance item, that can combine catastrophe and particular specialized covers and is utilized as retrocession by some significant reinsurers.
Throughout the call, Lancashire CEO Alex Maloney said that retrocession could be an opportunity area for the business which will also apply to the LCM team and its core product offering.
For this reason the continuous capital raise that the brand-new LCM interim CEO Gregory mentioned might present an opportunity for the unit to include extra capital.
Which would enable it to benefit from the chance to fill some spaces in the retrocession market, specifically with a variety of retro professionals now finding themselves with considerable quantities of losses or caught capital going towards end-of-year.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!