AFL Insurance Brokers appoints binding authorities head

Key hire joins from Munich Re subsidiary

AFL Insurance Brokers appoints binding authorities head

Insurance News

By Terry Gangcuangco

Sarah Stephen (pictured) has joined AFL Insurance Brokers Ltd as head of binding authorities.

The key hire, who most recently served as senior client manager at Munich Re company Hartford Steam Boiler, brings two and a half decades of insurance industry experience to the Lloyd’s broker. This includes 10 years spent at Lloyd’s syndicates underwriting global speciality casualty binders and facilities, as well as 12 years of expertise in property and casualty underwriting within the UK and international markets.

“We are delighted to have attracted a senior insurance professional of Sarah’s calibre and experience to our growing team,” said AFL chief executive Jonathan Bines.

“We are seeing increased demand for high-quality, independent services in our international coverholder and binder business, and Sarah’s specialist knowledge and expertise will bring huge benefits to our clients as we help them navigate in this fast-evolving market.”

Commenting on her appointment, Stephen called coverholder and binding authority business channels “the backbone of the London market,” saying they allow domestic brokers around the world to write specialty risks and place them at Lloyd’s.

“I’ve enjoyed my career in the market supporting this significant and growing service and I am very pleased to be continuing this with the AFL team,” she stated. “In AFL I’ve found an exciting, modern, and fast-developing specialist broker that supports an entrepreneurial, independent, and highly client-focussed approach that the market is looking for.”

Stephen believes coverholder and binder business will play a greater role in the global expansion of the specialist insurance sector this year and beyond.

Meanwhile Bines went on to say: “In addition to her role as head of binding authorities, Sarah also has broader responsibilities across the business as a senior member of our team. We look forward to benefiting from her insight and experience as we continue to grow our boutique operation internationally.”

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