The Bermuda-based Argo Group International announced that it has established a Casualty and Professional Risks division within Argo Re, the Company’s reinsurance division.
“The newly formed division will write general and product liability, product recall, excess directors’ and officers’ liability, A-side primary, lead DIC (difference in conditions) and follow form, excess errors and omissions liability, primary and excess employment practices liability, and excess crime & fidelity risks, with capacity limits of up to $25 million,” said the bulletin.
The new division will be headed by Nigel Mortimer, who has been appointed chief underwriting officer for Casualty and Professional Risks at Argo Re. He will report to Argo Re President Andrew Carrier, and will lead a team of underwriters that includes Mark Peeters, Glenn Burles, Timothy Hadler and Deirdre Lohan.
Carrier described the establishment of the new unit as a “tremendous opportunity in this part of the market.”
Mortimer joins Argo Re with nearly two decades of experience in the casualty sector. Most recently, he was director of product development for XL Insurance worldwide, a role he held from 2007. He has had various senior underwriting positions with international insurers XL, Zurich Group and Chubb Insurance. He holds an Honors degree in Economics and Politics from the University of Hertfordshire.
Argo Group also announced today that the president of its U.S. operations, Dale Pilkington, will be leaving the Company as of May 1, 2009. CEO Mark E. Watson III and CFO Jay Bullock will jointly assume his responsibilities until a successor is named. Pilkington will assist during the transition period with the selection process.
Watson commented: “Dale has been an integral member of our executive team during the growth and development of our Excess & Surplus Lines business segment. At my request, he took over the management of our U.S. operations just over a year ago and during that time has overseen key aspects of management and operational reorganization, supporting the successful acquisition of strategic books of business. I know his decision to leave Argo Group was made after careful thought and consultation with his family and I respect the decision he has made. Dale is a consummate insurance professional who enjoys the respect of his industry peers and his Argo Group colleagues. I know I speak for everyone in wishing him every success in his future endeavors.”
Source: Argo Group – www.argolimited.com
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