The St. Paul Companies announced that Martin Hudson has been named as the new CEO of The St. Paul at Lloyd’s, following the resignation of David Reed.
Hudson, who will also retain his current position as CEO of St. Paul International Insurance Company’s UK business, will “focus upon building profitability, and identifying synergies between The St. Paul at Lloyd’s and St. Paul International Insurance Company’s UK business,” said the bulletin.
The St. Paul at Lloyd’s recently announced the launch of new corporate Syndicate 5000 to underwrite the company’s non-life business at Lloyd’s for the 2003 account. The Syndicate will have a capacity of 435 million Pound Sterling, and underwrite aviation, marine, global property and specialist personal lines, under the Cassidy Davis Insurance Group trading name.
“David Reed made a major contribution to the repositioning of The St. Paul at Lloyd’s, and the business is now well placed to make an important contribution to the earnings of The St. Paul,” stated Kent Urness, executive VP of the St. Paul’s International Insurance Operations. “He leaves with our thanks and best wishes for the future. Martin Hudson has the full support of The St. Paul board to build on David’s achievement and be the architect of sustained profitability in our Lloyd’s business.”
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