Westfield Specialty, a US property & casualty insurer, has formed a team to lead its entry into international property direct and facultative (D&F) insurance, which includes the hire of Richard Wood from Lancashire and Chris Prior from Inigo.
Joining the company in July 2024, Wood will lead the new International Property division as Executive Vice President, Head of Property, International Insurance.
Prior is joining the team in December as D&F Property Class underwriter, to begin underwriting for the 2024 year of account.
According to the announcement, the existing International Property team led by Matt Stollery, Head of Property ‑ Binding Authorities, will report to Wood.
Wood will be joining Westfield Specialty from Lancashire Group (originally as part of the Cathedral Capital), where he has served for two decades.
Most recently, he was Group Head of D&F Property, responsible for property underwriting at Syndicate 2010, Lancashire Insurance (UK) and Lancashire Australia Sydney.
Prior to Lancashire, Wood worked at Catlin Group where he led the Direct Property portfolio, responsible for Property underwriting at Syndicate 2003 along with the Singapore and Houston offices.
Before joining Catlin, he served at Hiscox as Deputy to the Principal Property underwriter writing a Global portfolio.
Prior is joining Westfield Specialty from Inigo Syndicate 1301, where he was instrumental in the build out of the property D&F portfolio, while also interacting extensively with Lloyd’s, reinsurers, and capital providers.
His prior experience also includes working in Willis’s reinsurance division and D&F property underwriting at Cincinnati Financial Syndicate 318.
“As we continue to diversify our overall portfolio, we now have an increasingly appealing offering to serve needs in the international property D&F market,” said Westfield Specialty President Jack Kuhn.
The new business builds on Westfield’s 2023 acquisition of Lloyd’s of London Syndicate 1200.
Graham Evans, Executive Vice President, Head of International Insurance for Westfield Specialty, stated: “There are few things more rewarding than seeing a growth plan come to fruition. Both Richard and Chris bring significant underwriting expertise and leadership capabilities.
“I look forward to the new international property D&F team making a difference for new and existing clients with superior service, customised solutions, and exceptional underwriting.”
