Lloyd’s broker and delegated authority specialist Endeavour Insurance Services has named Karen Allen as Chief Executive Officer (CEO) designate, who will join the business in October, 2018, following Endeavour’s recently announced merger deal with SSL Insurance Group.
Allen will also take up the position of Group Managing Director, and will assume overall responsibility for the broking operations of the combined SSL Endeavour business following the completion of the merger agreement.
Under the terms of the agreement, both Endeavour and SSL will be acquired by a fund advised by private investment firm J.C. Flowers & Co. LLC (JCF).
Allen joins Endeavour from Howden UK Group Limited, where she most recently served as Director for International and was responsible for the growth and management of the team she built during her tenure.
She has 20 years of experience as a broker in the Lloyd’s market, and specialises in International Specialty Casualty insurance and Coverholder business, in addition to having developed emerging products in cyber.
Allen will now work alongside David Lawrence, Founder and current CEO of Endeavour, as Lawrence transitions into his new role as Co-Founder and President of the Board of the combined SSL Endeavour Group.
Lawrence commented: “We are delighted that an individual of Karen’s calibre and talent will be strengthening the Endeavour management team at this pivotal moment in our growth. Whilst Karen’s underlying experience is closely akin to that of Endeavour, she will bring a new perspective to the business which we are very excited about.
“Endeavour is now one of the largest and most respected independent producers of delegated authority business into the Lloyd’s and London markets, and Karen’s successful experience managing delegated authority and Lloyd’s Coverholder business as well as developing innovative new programmes makes her an ideal CEO in the near future.”
He continued: “Karen’s appointment will also allow me to focus on the growth strategy and integration of the combined SSL Endeavour business going forwards.
“The future of insurance broking lies in delivering value to clients, and delivering practical tools and insights that allow Coverholders to place business in the Lloyd’s market more efficiently. Undoubtedly, the combined SSL Endeavour business is on a dynamic growth path, and I am looking forward to Karen bringing her skills and experience to our talented team.”
