Ariel Re, a global reinsurance firm with offices in Bermuda, London and Hong Kong, has been granted permission to launch a managing agent at Lloyd’s of London.
The new management agency, Ariel Re Managing Agency (ARMA), will assume management of Ariel Syndicate 1910 with SPA 6117 from Argo Managing Agency Ltd. Ariel Re has received approval from the Prudential Regulatory Authority, the Financial Conduct Authority and Lloyd’s to commence this new operation.
Ariel Syndicate 1910 began underwriting in early 2008 and has established a successful business since then. Today, Ariel Re employs nearly 100 people worldwide.
“The establishment of a management agency is a key step for Ariel Re to be a leading manager of reinsurance risk and the ARMA approval further demonstrates our commitment to Lloyd’s,” commented Ryan. Mather, CEO of Ariel Re.
“ARMA and our managed syndicates will benefit from streamlined administration and efficiency, as well as the ability to leverage the expertise and resources of the Ariel Re Group,” he added.
Darren Lednor will be ARMA’s Managing Director. Lednor has over 25 years of experience in London and Bermuda in a career spanning underwriting, brokerage, risk and actuarial roles.
“We have assembled a first class team at ARMA and are confident that having our own management agency will allow us to increase the efficiency of our Lloyd’s business as well as deepen our relationship with Lloyd’s and the London market in general,” Lednor said.
In addition to Lednor, other team members include:
- Mark Pickett, head of underwriting management in London, will take on the role of active underwriter for Syndicate 1910 and SPA 6117. Pickett, who has over 15 years’ experience in financial services, previously held roles at JP Morgan , Lloyd’s and Argo Group. .
- Chief Financial Officer Anouchka Gokhool has almost 20 years of experience in the insurance market. She has held senior roles at Catlin and Tokio Marine Kiln and was most recently Director of Syndicate Finance for Hiscox.
- Chief Actuary Jon Poole has 20 years of insurance expertise, including a stint at Ariel Re. Most recently, he served as Chief Actuary for Blenheim Underwriting.
- Rebecca Knowles, Chief Risk Officer, joined Ariel Re in January this year with over 15 years experience in the insurance market. She most recently served as Deputy Chief Risk Officer at Asta Capital Ltd., having held senior roles in risk and capital modeling at Catlin/XL Catlin/AXA XL.
- Syndicate Controller Martin Vincent has worked in the insurance industry for nearly 20 years and was most recently responsible for Syndicate Reporting for Hiscox.
- Natalie Dick, Chief Compliance Officer, brings 25 years of experience to her role. Dick has extensive compliance experience for various companies including Amlin, Chubb, Ark, Barbican and Arch Insurance.
Ariel Re primarily operates through Syndicate 1910 at Lloyd’s of London and also offers access to Lloyd’s Europe through Syndicate 5336. Originally founded in 2005, Ariel Re was acquired by Pelican Ventures and JC Flowers in November 2020.
Source: Ariel Re
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