Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, announced the appointment of Preben Prebensen as independent non-executive Chair of the Group Board.
According to the announcement, this appointment will be effective upon completion of Dale’s transaction with CVC and subject to the customary regulatory approvals.
Dale announced it was entering into a strategic partnership with CVC, global private markets manager with €161 billion of assets under management, last month.
As part of the partnership, a new Group Board will be formed which will include CVC and Dale executive and non executive directors and will be in addition to the existing governance framework. The Board will be focussed on supporting the business on executing the next phase of its strategic vision.
Duncan Dale, Founder and Chief Executive of Dale, commented: “Having someone of Preben’s calibre joining the Group Board is a real achievement for the business following our strategic partnership announcement with CVC.
“Preben’s extensive experience within financial services will help with Dale’s exciting plans for growth and continue its mission of delivering superior underwriting results and service to our clients.”
Prebensen has over 40 years of experience in the banking and insurance sectors, including 11 years as CEO of Close Brothers Group Plc, the FTSE 250 merchant bank. Previously he served as Chief Investment Officer and as a member of the Group Executive Committee at Catlin Group and CEO at Wellington Underwriting.
He is also the independent non-executive Chair at RiverStone International and Enra Specialist Finance and Senior Independent Director at The British Land Company plc.
Prebensen said: “Over the past 10 years Dale has been focussed on building a leading Lloyd’s business. Following the investment from CVC, I am looking forward to working with Dale’s team and helping to execute its strategy and delivery of long-term sustainable growth.”
