Global reinsurer Ariel Re has been granted regulatory approval to launch a Managing Agent at Lloyd’s of London, a statement from the company has confirmed.
The company received approval from the Prudential Regulatory Authority, the Financial Conduct Authority and Lloyd’s to commence the new operation, called Ariel Re Managing Agency (ARMA).
Once up and running, ARMA will assume the management of Ariel Syndicate 1910 together with SPA 6117 from Argo Managing Agency Ltd.
“The establishment of a Managing Agency is a key milestone in Ariel Re being a Premier Manager of Reinsurance Risk and the approval of ARMA further demonstrates our commitment to Lloyd’s,” said Ryan Mather, Chief Executive Officer of Ariel Re.
“Both ARMA and our managed syndicates will benefit from streamlined administration and efficiencies, as well as the ability to leverage the expertise and resources of the Ariel Re group,” Mather explained.
Following the approval, Darren Lednor has been appointed as Managing Director of ARMA, bringing more than 25 years’ experience to the role across London and Bermuda in a career covering underwriting, broking, risk and actuarial roles.
“We have assembled a top-class team at ARMA and are confident that having our own Managing Agency will enable us to increase the efficiency of our Lloyd’s business as well as deepening our relationship with Lloyd’s and the London market generally,” Lednor commented.
In addition to Lednor, other team members include Mark Pickett, Head of Underwriting Management in London, who will assume the role of Active Underwriter of Syndicate 1910 and SPA 6117. Pickett has 15+ years’ experience in financial services, and previously held roles with J.P. Morgan, Lloyd’s and Argo Group.
Chief Financial Officer Anouchka Gokhool has almost 20 years’ experience in the insurance market, having held senior roles at Catlin and Tokio Marine Kiln and was most recently Director of Syndicate Finance for Hiscox.
Next, Chief Actuary Jon Poole has 20 years’ insurance expertise, including a prior spell with Ariel Re. Most recently, he served as Chief Actuary for Blenheim Underwriting.
Chief Risk Officer Rebecca Knowles joined Ariel Re in January this year with 15+ years’ experience in the insurance market, and most recently served as Deputy Chief Risk Officer of Asta Capital Limited, having previously held senior roles in risk and capital modelling at Catlin/XL Catlin/AXA XL.
Further team members include Syndicate Controller Martin Vincent, who has worked in the insurance industry for almost 20 years and was most recently Head of Syndicate Reporting for Hiscox.
And finally, Compliance Officer Natalie Dick brings 25 years of experience to her role, having previously held positions across a variety of companies including Amlin, Chubb, Ark, Barbican and Arch Insurance.
