Apollo has expanded its specialty division with the launch of a sports and entertainment (S&E) class of business. The company appointed market veteran Paul Thomas (pictured) to lead the unit.
The move brings S&E together with Apollo’s established contingency and accident & health (A&H) solutions, creating a combined platform aimed at targeted, profitable growth and further portfolio diversification.
Apollo is seeking to build long-term positions in defined niche segments rather than pursue broad, undifferentiated expansion, reflecting a wider shift among Lloyd’s and specialty carriers towards margin over volume in competitive lines.
The company said the new S&E class is designed to sit alongside existing contingency and A&H offerings as a unified specialty proposition for brokers and clients. The structure reflects how many buyers now purchase event-related, personal accident and wider S&E covers through integrated programmes, often with capacity sourced from the same panel of London market insurers.
Thomas brings more than two decades of expertise in sports, media and entertainment underwriting, having most recently served as global head of sports, media and entertainment at AXA XL.
The hire comes as demand for sports and entertainment insurance continues to evolve post-COVID-19 pandemic. While event cancellation, non‑appearance and prize indemnity remain core products, buyers are increasingly focused on wider risk themes such as extreme weather, venue and spectator liability, cyber threats to digital broadcasts and ticketing platforms, and reputational issues linked to sponsors and rights holders. Underwriters with deep sector knowledge are seen as important to structuring sustainable capacity and managing volatility in contingency and related markets.
Apollo’s move points to several trends in the S&E space. Capacity has become more selective following the significant COVID‑era loss experience, with underwriters placing greater emphasis on clear wordings, tighter triggers and disciplined pricing.
At the same time, global sports and entertainment revenues have been buoyed by major media rights deals, the growth of streaming platforms, new tournaments and the expansion of women’s and niche sports, increasing both the value and complexity of insurable exposures.
Against this backdrop, carriers are competing not just on price but on their ability to structure multi‑line programmes that connect event cancellation, liability, A&H and specialist S&E covers across multiple jurisdictions.
By combining S&E, contingency and A&H under one leadership, Apollo positions itself to engage in those broader programme discussions rather than offering standalone products in isolation.
