International General Insurance has announced the appointment of Richard Foster to its London office as head of property, political violence lines of business.
Foster will also be taking on the newly created contingency insurance line of business.
The company is set to launch a contingency line of business to take advantage of what it sees as a the considerable opportunity to leverage COVID-19 driven market dislocation.
Foster brings 24 years of specialty lines underwriting experience and joins from London-based Agile Risk Partners, where he was Director of Underwriting.
Before that he was Head of Global Property, London for Zurich Insurance PLC and Brit Global Specialty, and prior to that held senior roles with Allied World (AWAC).
The contingency line will primarily cover event cancellation, interruption or curtailment of events, non-appearance, and/or other contractual obligations.
“We are excited to welcome Richard to IGI,” said IGI UK Chief Executive Officer Andreas Loucaides.
“He comes with significant underwriting experience and will be a strong fit as IGI continues to grow and evolve.
“The addition of the contingency line of business complements our existing portfolio of specialty risks, and consistent with our measured underwriting approach, we will develop the contingency business with the same level of pragmatism and commitment to underwriting profitability.”