Lancashire Holdings Ltd. announced Wednesday that Richard Brindle, who has served as CEO of the group since he founded the business in 2005, will be retiring effective April 30.
Alex Maloney, currently the group’s chief underwriting officer and chief executive of Lancashire Insurance Co. (U.K.) Ltd., will be appointed as group CEO, subject to regulatory approvals. Paul Gregory, currently chief underwriting officer of Lancashire Insurance Co. (U.K.) Ltd., will be promoted to the role of group CUO.
“Richard has been the driving force behind the success of the group since its formation, building a team of the highest quality and determined to create a distinctive business with a market-leading track record,” said Chairman Martin Thomas. “We are sad that he has chosen this moment to retire and grateful that he leaves the company in as strong a state as one could wish, renowned for the high quality of its staff, its cadre of talented specialty underwriters and its ability to respond to shifts in the market.”
Maloney joined Lancashire in 2005 and since 2009 has served as group CUO. He has also served as a member of the board since 2010, and he became CEO of Lancashire Insurance Co. (U.K.) Ltd. in 2012. Prior to joining Lancashire, Maloney spent 15 years with Zurich.
Gregory joined Lancashire in 2007 as a member of the underwriting team and in 2009 was appointed CUO for Lancashire Insurance Co. (U.K.) Ltd., responsible for all lines of business written from the Lancashire London office.
Source: Lancashire Holdings Ltd.