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Fidelis gets green light for Brexit unit

Fidelis gets green light for Brexit unit | Insurance Business

Fidelis gets green light for Brexit unit

Fidelis Insurance Holdings Limited is expanding to Ireland ahead of the UK’s split with the European Union.

The Bermuda-headquartered firm has received approval from the Central Bank of Ireland to establish Fidelis Insurance Ireland DAC (FIID), which will write bespoke and specialty insurance and reinsurance in the European Economic Area (EEA). The Dublin unit will be led by Colm Lyons, who is taking on the dual role of chief executive and chief underwriting officer.

Prior to his appointment as FIID boss, Lyons was XL Catlin’s chief excess casualty officer in Dublin. His more than 18 years of (re)insurance experience includes time spent at Marsh Ireland Limited, Axis Re, Willis Re, and Allied World Assurance Holdings.

Also joining the team are Robert Kelly, Alistair Brown, and James Brennan.

Kelly, former PartnerRe Ireland Insurance DAC chief financial officer, will be serving in the same capacity at the new (re)insurer. Meanwhile Brown, who brings claims expertise from AXIS, has been named as group claims manager and head of insurance operations, Ireland. Coming onboard as compliance/risk manager is Brennan, who makes the switch from Hiscox.

“I am very pleased with the calibre of talent that we have attracted with Colm, Rob, and the rest of the team,” said Fidelis chair and group chief executive Richard Brindle. “Our Dublin office provides the certainty to our clients and brokers that we will continue to operate in the EEA irrespective of Brexit, and that there will be continuity of service on our agreements.

“This is an important piece of our four-pillar strategy, ensuring that we can continue to grow our continental book, particularly in specialty and bespoke insurance including our MGAs.”