With three decades of experience under his belt, Direct Insurance London Market (DILM) is confident it has found the right man for the job in Mike Newson (pictured).
Newson will take the role of PI and financial lines manager, bringing with him 23 years of experience from Willis, as well as time with the likes of Gallagher and most recently SSL Endeavour.
“We are thrilled to launch our new specialist PI & financial lines division and that we have secured Mike to lead the team,” said Direct Insurance Group CEO David Bearman. “Mike is very well known in the market and I’m delighted to have him on board. His experience is across the full spectrum of client service, dealing with the insured, the regional or sub broker – handling the business from cradle to grave.
“His expertise will help us to establish Direct Insurance London Market as a lead wholesale broker in PI alongside our existing lines. His extensive market knowledge of PI as well as D&O, cyber and other specialist products will be of immense benefit to our brokers and their customers, particularly in the current market environment. We hope to recruit further talent to the PI Division in the next few months.”
Meanwhile, Newson himself noted the strong reputation that Direct had built over the last 20 years, particularly in specialist areas such as asbestos, waste and high-risk construction.
“It has had a modest book of PI and financial lines to date but there has been increasing demand from the market for Direct to develop its own specialist capabilities and delegated authority in these areas,” he said. “The professional indemnity market has great scope for growth and in a hard market is an area that will benefit greatly from a specialist wholesale service. I’m very much looking forward to establishing the division and maximising its potential within the group.”
