Hyperion, the world’s largest employee-owned insurance group, announced today that Clem Booth will join DUAL, its underwriting arm, as non-executive chairman of the board. He will also become a non-executive director on the board of Hyperion. The appointments are subject to regulatory approval.
Booth was a member of the board of management of Allianz SE, and chairman of the boards of Allianz UK and Allianz Global Corporate and Specialty, until his retirement from the company in December 2014. He held a number of other positions, including chairman of the Allianz Group Global Underwriting Committee and director of Allianz Australia, during his tenure with the company.
Prior to that Booth was chairman and CEO of Aon Re International and he spent 18 years with Munich Re including as a member of the board of management in Munich and as CEO of Munich Reinsurance Company of Africa in South Africa. Booth was also a member of the board of the Association of British Insurers until the end of 2014.
He is currently chairman of Euler Hermes, the global credit insurer based in Paris, and he is a non-executive director on the boards of Sanlam and Santam in South Africa and the board of Allianz Ireland. He is also a director of Saracens Rugby Club.
Luis Muñoz-Rojas, founder of DUAL, will step down as chairman of DUAL but remains as a non-executive director on the boards of both DUAL and Hyperion.
“I am extremely proud that Clem has chosen to join us. He brings a huge depth and breadth of experience from both underwriting and broking to DUAL, the world’s largest international MGA, including almost a decade in senior board and management positions with Allianz, the world’s largest insurer,” according to David Howden, CEO of Hyperion.
“In particular, his passion for attracting and developing people fits very well with our quest to be the natural home for the industry’s entrepreneurs,” he said.
Shane Doyle, CEO of DUAL Group, commented: “In a fast-changing market Clem will be the perfect chairman to guide DUAL and ensure that we remain at the forefront of service, distribution, product and technological development as well as disciplined underwriting.”
Booth said: “DUAL is a leading light of the MGA sector and MGAs are one of the fastest growing sectors in our industry, being at the forefront of distribution and the highest quality underwriting. I look forward to being a part of that future.
“As for Hyperion, it offers the industry’s talent a different way and I am very pleased to join the board. I look forward to helping the group deliver its ambitious and exciting plans.”
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