RFIB CEO Steven Beard steps down
Integro Insurance Brokers Holdings Ltd, the parent company of UK-based firm Risk Transfer Group which trades under the RFIB brand, announced that CEO of RFIB, Steven Beard, will be stepping down with immediate effect.
Commenting on this decision, Steven Beard said: “I have valued greatly the opportunity to lead the business through its last phase of development and have enjoyed sharing this success with a team that cares passionately about ‘doing the right thing’. Stepping down as CEO and leaving a business is never an easy decision to take, but timing is everything, and now feels right.”
Until RFIB’s integration with Tysers is completed, it has been announced that an interim management committee will lead the day to day operations of the business, reporting to the Tysers Management Committee. This committee is comprised of Morna Leather, finance director, Chris Tansley, chairman of marine, and Kevin Stratton, managing director of specialty.
Jason Collins, co-head of Tysers Broking said: “Steven exercised his position with diligence and focus and we have appreciated his partnership in the acquisition and integration planning.”
HSBC Holdings plc Group Chief Executive steps down and appointment of interim Group Chief Executive
HSBC Holdings plc announces that John Flint has today stepped down as Group Chief Executive and as a Director by mutual agreement with the Board. Although not carrying out his day-to-day duties after today, he remains available to assist HSBC with the transition.
Mark Tucker, Group Chairman of HSBC, said:
“On behalf of the Board, I would like to thank John for his personal commitment, dedication and the significant contribution that he has made over his long career at the Bank. Today’s positive interim results particularly reflect John’s achievements as Group Chief Executive.
“HSBC is in a strong position to deliver on its strategy. In the increasingly complex and challenging global environment in which the Bank operates, the Board believes a change is needed to meet the challenges that we face and to capture the very significant opportunities before us.”
John Flint said:
“It has been a privilege to spend my entire career with HSBC, rising from International Officer Trainee to serve as Group Chief Executive. I am grateful to my wonderful colleagues at the Bank for their support during my career, and I am proud of what we achieved together.
“I have agreed with the Board that today’s good interim results indicate that this is the right time for change, both for me and the Bank. After almost 30 years with HSBC, I will be sad to leave but I do so looking forward to a new personal challenge, and confident that our people will continue to serve the Bank’s stakeholders in the best possible way.”
The Board has initiated a process to find a new Group Chief Executive. The Board will be considering internal and external candidates.
During the search period the Board has asked Noel Quinn to assume the role of interim Group Chief Executive until a successor is appointed and to join the Board as an Executive Director. The appointment is subject to regulatory approval. Mr Quinn is Chief Executive, Global Commercial Banking, a position he has held since 2015. He brings a track record of business success, strong client relationships and deep global expertise from his 32 years with HSBC.
Kevin Thompson steps down as CEO of lobby group Insurance Ireland
Insurance Ireland has confirmed that Kevin Thompson has stepped down as chief executive of the industry lobby group.
In a statement, the group said Mr Thompson had tendered his resignation to ‘take up a senior role in the industry’.
There are reports that he’s to head up insurer RSA’s Irish unit.
RSA has confirmed that its current CEO, Ken Norgrove, has been appointed Chief Executive of RSA’s Scandinavian business, Codan/Trygg-Hansa.
Insurance Ireland said Mr Thompson would remain in his role until a departure date is confirmed.
Hiscox CUO Richard Watson steps down after 33 years
Specialist insurer Hiscox’s chief underwriting officer (CUO) Richard Watson is stepping down from his position after 33 years with the carrier.
Watson will step down from the board of Hiscox on December 31, 2019 and will continue as an advisor and serve on subsidiary boards.
Hiscox said a successor will be announced following a review of internal and external candidates.
Watson joined Hiscox in 1986, having previously worked for Sedgwick and Hogg Robinson. He was appointed managing director of Hiscox Global Markets in 2005, and the underwriter of Syndicate 33 from 2006 to 2009. In 2009, Watson moved to New York and served as the chief executive officer for Hiscox USA for three years. He returned to London in 2012 and became CUO for the Hiscox Group.
Bronek Masojada, group chief executive, said: “Richard’s instinct, determination and straightforward approach epitomises the underwriting culture that lies at the heart of Hiscox. He has steered us through a period of profound change in the rating environment and developed a first class underwriting function in the Group.
“Prior to becoming Chief Underwriter, Richard’s career has encompassed multiple lines of business in insurance and reinsurance culminating in becoming CEO of Hiscox Global Markets before moving to serve as CEO of Hiscox USA during its formative years. Richard’s occasionally gritty contributions to our strategic conversations made us address issues we might otherwise have preferred to overlook. He has served with distinction and can be extremely proud of his contribution and legacy.”
Robert Childs, chairman, added: “I have thoroughly enjoyed working with Richard during his tenure at Hiscox and would like to thank him for his outstanding contribution. As a Board member for the last five years, we have benefited greatly from his experience and judgement and we are pleased that he will continue to serve as Chairman of Hiscox Re & ILS and on the board of Hiscox Syndicates Ltd. All of us on the Board, and throughout the Company, wish him every success for the future.”
Watson said: “After 33 years I feel the time is right for me to retire. I am extremely proud of the business we have built and the talented team I leave behind. When I first joined the company, we were fewer than 30 people underwriting around £80 million. Today we are global specialist insurer with operations in Retail, Global Speciality and Reinsurance. Hiscox has a strong position in the market and plenty of opportunity ahead. I am grateful to Robert and Bronek for all their support, I look forward to serving Hiscox in a more non-executive role, and I will continue to take a keen interest as a shareholder.”
Source: intelligentinsurer