Global non-life specialty insurer R&Q Insurance Holdings Ltd (R&Q) has announced the addition of Stephen Welch and Lawrence Hirsh to its Board as Non-Executive Directors.
Having worked for financial sponsors and investors in both executive and non-executive roles, Welch has extensive experience managing complex corporate issues including several restructuring situations of regulated financial services and insurance businesses.
In addition to his new role as R&Q’s Non-Exec Director Welch is part of Telegraph Media Group Limited Board, where he also serves as Non-Exec Director, as well as for the Spectator (1828) Limited and the Primary Group Limited.
Through his career, Welch has also been a partner at McGrathNicol and a Senior Managing Director at FTI Consulting, and is a Chartered Accountant.
Hirsh, who has acted as an independent board member and advisor to a number of companies, is joining Welch as a R&Q Non-Exec Director.
The executive was previously a Managing Director for Alvarez & Marsal, leading its Southeastern US Corporate Restructuring Practice, and a Partner at Arthur Andersen LLP.
As both an advisor and during his career, Hirsh has a track-record of helping drive operational improvements and cost reduction programs.
Commenting on the new appointments, Jeff Hayman, Chairman of R&Q, said: “Stephen and Lawrence both bring relevant additional experience to the Board, in particular with regards to our priorities of reducing debt and improving the efficiency and expense base of the go-forward business.
“As we continue to work towards completing the sale of Accredited, these appointments also support our ongoing discussions with lenders to achieve their necessary approvals.”
