AEGIS London has tapped Alex Powell (pictured above) as its new chief executive officer when David Croom-Johnson enters retirement on June 30.
Croom-Johnson started as an active underwriter for AEGIS London before becoming its chief executive officer in 2015. Under his leadership, Croom-Johnson brought AEGIS London consistent and profitable results, with gross written premiums of commissions growing by an eye-catching 132% since he first became the leader.
“This is a strong result and testimony to our core principle of disciplined underwriting. It has been an honour and a privilege to lead AEGIS London over the past seven years and now seems the natural time to step aside,” Croom-Johnson said. “I will be leaving the Syndicate as a top quartile performer in the excellent hands of a high-quality management team led by Alex with whom I have worked for many years and who has been a major contributor to our success to date.”
This success has translated into a Syndicate profit of £87 million – up around £27 million compared to 2020 figures. Premium gross of commissions stood at £774 million, noting an increase of 9% on 2020’s premium of £708 million. In 2021, AEGIS London’s combined ratio was 83.9% – an improvement of 7.7 points on the 91.6% of 2020.
Poised to take on the leadership post, Powell has been with AEGIS London since 2000. The appointment is still subject to regulatory approval, however.
“I am delighted to take up the leadership of our talented team at AEGIS London,” Powell said. “The success of the business, under David’s stewardship, has been deeply rooted in a strong culture of underwriting discipline and empowerment and I am keen that we not only preserve this foundation but build on it to provide our future success.”
