Lloyd’s announced that Tom Bolt has been appointed as the new Underwriting Performance Director, effective early this fall. He will take over from Rolf Tolle who will retire at the end of the year.
Bolt has more than 25 years experience in the insurance industry. He is currently the Managing Director of the Marlborough Managing Agency, which is operated by Flagstone Re (See following article).
The Underwriting Performance Director and his team are “responsible for working with individual Lloyd’s businesses to improve the commercial performance of the market,” said the bulletin. “This includes monitoring each syndicate’s performance against its business plan and ensuring that the underwriting guidelines are adhered to”
Lloyd’s CEO, Richard Ward commented: “I am delighted that Tom has accepted the role of Underwriting Performance Director. He has a great reputation and track record, and the perfect mix of technical knowledge and commercial experience that will enable him to work in partnership with the market.”
Ward also praised the “fantastic job” Rolf Tolle has done “for the market over the last six years. As we move into a new era, Tom will be able to shape the role even further to develop our relationship with the businesses in the market.”
Bolt’s appointment is subject to approval by the Financial Services Authority (FSA). He headed Berkshire Hathaway’s reinsurance division in Europe before joining Marlborough.
Source: Lloyd’s – www.lloyds.com
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