SCOR Global P&C has revealed plans to consolidate its specialty insurance operations in the London Market into a single business platform, led by Stuart McMurdo, current Chief Executive Officer (CEO) of SCOR UK.
SCOR says the new specialty insurance platform will offer either company or Lloyd’s paper or a combination of both to its growing customer base.
McMurdo has been appointed CEO of The Channel Managing Agency, the Managing Agency of SCOR’s Channel Syndicate, with effect from 1 September.
He will succeed outgoing CEO David Reed, who will retire from his role on 31 August and continue as a Non-Executive Director of The Channel Managing Agency.
Tom Corfield, current Active Underwriter of the Channel Syndicate has also been given the additional role of Chief Underwriting Officer of SCOR UK.
Both McMurdo and Corfield have joined the Board of Directors of SCOR UK and the appointments have already been approved by the regulators.
Laurent Rousseau, Deputy-CEO of SCOR Global P&C, commented: “The appointments of Stuart McMurdo and Tom Corfield in their dual roles at SCOR UK, The Channel Managing Agency and the Channel Syndicate represent a key step towards the consolidation and strengthening of SCOR Global P&C’s specialty commercial lines insurance platform in the London Market.
“A unified senior management team with oversight across a single, strong insurance platform in the London Market will significantly enhance our presence in the market and our ability to satisfy our clients’ needs through tailored solutions, while improving our ability to provide a global offering by federating the means and expertise of our teams throughout the world”.