Reinsurance News

Parsyl opens office in London, hires underwriting team

23rd June 2022 - Author: Jack Willard

Parsyl, a provider of insurance for essential supply chains, has announced that it has opened an office in London, and has hired a team of industry-leading marine cargo professionals to serve Lloyd’s open market via Parsyl’s Syndicate 1796.

ParsylJoining the company are Kristopher Kimble, Director of Aon, Henry Wood, Partner at McGill, and Ed Colclough, Head of Cargo, Fine Art and Specie at Talbot, an AIG Company.

Wood joins Parsyl from McGill and Partners where he held the position of Partner on the Marine & Energy Treaty reinsurance team. He has a strong background in cargo underwriting, including being credited with starting the London Cargo book of Torus/StarStone in 2012. Prior to his time with Torus/StarStone, he held various senior underwriting positions at Glacier Re in Zurich as well as AIG.

Within his role at Parsyl, Kimble brings 15 years of experience in cargo and logistics insurance. He joins from global broker, Aon, where he was a Director in their Marine Cargo division. Prior to joining Aon, he served as a Divisional Director at WTW in their Global Marine Cargo Practice.

Moreover, Colclough joins Parsyl from Talbot Underwriting he served as Head of Cargo, Fine Art and Specie. Having started on Talbot’s graduate programme over a decade ago, he has worked across a number of lines of business, including four years in Dubai writing Talbot’s Marine and Energy portfolio.

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Alongside day to day underwriting, he has also been involved in the Lloyd’s Lab including mentoring and advisory work across various cohorts.

“We’re thrilled to welcome Henry, Kris and Ed to the Parsyl team. Their knowledge and leadership will be instrumental in supporting our mission to better protect essential goods we all rely on,” said Gavin Spencer, Head of Insurance, Parsyl.

“The expansion of Syndicate 1796 and Parsyl’s data-powered insurance offering is in response to a huge market need and will allow customers across all supply chain sectors to access the untapped potential of an integrated risk management and insurance solution.”

In addition, Parsyl redefines insurance for the $4 trillion of perishable food and pharmaceuticals shipped annually by using granular supply chain data to identify and manage risk and reduce waste of essential goods.

The company insures goods in food, pharmaceuticals and life science industries as well as logistics participants within the perishable supply chain. Parsyl’s risk management technology is deployed in over 80 countries and is currently monitoring vaccines for more than 200 million people.

Earlier this year, Parsyl also launched a US-based Managing General Underwriter (MGU), and expanded the scope of 1796, its impact-focused syndicate at Lloyd’s of London, to support global healthcare, perishable foods and pharmaceuticals.

The syndicate was first created in response to the Covid-19 pandemic, and anchored the award-winning Global Health Risk Facility.

The expanded program builds upon the company’s existing suite of data-powered insurance solutions designed to lower risk and improve protection for perishable supply chains. The new program also allows Parsyl to offer a full range of cargo and supply chain coverages, with a focus to become the leading insurer of perishable goods globally.

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