Lloyd’s insurer Advent has launched its new bespoke products underwriting unit which will be joined by three executives picked up from a rival firm.
The new unit will develop a highly diverse bespoke portfolio to complement Advent’s existing property binders and accident and health businesses.
John Marks, who founded the portfolio over 20 years ago, has been working with Advent as a consultant and will continue to provide pro-active guidance and support.
Paul Driver and Philip Misztela will lead the new unit, which will be supported by Stuart Cowen. All joining from Beazley, the trio will report to Advent chief underwriting officer William Beveridge.
Beveridge said the three recruits form a “high calibre” team with an “excellent track record, leading market reputation and extensive product knowledge and experience.”
“John and his colleagues are already demonstrating their ability to build a highly profitable book of business,” Beveridge said.
“With the opportunities available through the Fairfax Group, I am confident that there is scope to continue to develop this offering on a global basis,” he added.
Commenting on their appointments, Driver said Advent has a “strong and growing reputation.”
“We look forward to harnessing that to grow our bespoke products proposition,” he said.
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