It’s been an interesting year for Dale Underwriting.
The company, which started in 2014, enjoyed a modest underwriting profit during its first year of account. The new entrant to the Lloyd’s market, which is an Asta-managed syndicate, reported a 0.6% profit on its initial stamp capacity of £75 million, writing £45 million of GNWP during the year with 43% as new business for Lloyd’s. According to the company’s CEO Duncan Dale, it was a result to be proud of.
“We are very proud of this result considering the market conditions, our low volume of premium and the usual expense strain of a new business,” he said. “We have received fantastic support throughout from our capital providers, Lloyd’s, Asta, brokers, and our clients.”
However, as it attempts to push on towards a more prosperous future, the company has also today announced the appointment of Mark Channell as chief operations officer.
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“This is a further important step in the development of our business and we expect to benefit significantly from Mark’s experience and expertise in the operational aspects of Lloyd’s businesses,” said Dale.
Channell will report to the CEO and joins from Sirius International Managing Agency where he served on the board, executive committee and risk and capital committees. He is a Prudential Regulation Authority-approved board director, an associate of the Chartered Insurance Institute and also boasts an MBA from Henley Management College.
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