Insurance provider Lancashire Holdings has appointed group chief underwriting officer Paul Gregory (pictured) as an executive director on the company’s board.
“We are delighted to welcome Paul to the board,” said chief executive Alex Maloney, whose camp saw a 24.6% rise in insurance revenue in the first quarter of 2024. “Paul has been a trusted colleague, adviser, and a valued member of our senior management team for many years. He is a welcome addition to our board.”
Gregory has been with the group since 2007, with his previous roles including CUO and chief executive of Lancashire Insurance Company (UK). Group chief underwriting officer since 2014, Gregory has also served as Lancashire Capital Management CEO since 2021.
“Paul’s knowledge of our business, leadership skills, and deep industry knowledge will add great value to the board and help us to deliver on our strategic objectives,” commented board chair Philip Broadley, who recently took over from Peter Clarke as planned.
Earlier this month, Lancashire announced a 7.8% increase in the group’s gross written premium (GWP) for the first quarter. Lancashire’s GWP in the period amounted to $631.7 million, while insurance revenue reached $422 million.
At the time, Maloney stated: “I am excited by the prospects for Lancashire as we move through 2024. Our strong balance sheet, with a regulatory ECR (enhanced capital requirement) ratio of 328%, gives us the flexibility to achieve our goals.
“We remain focused on writing profitable business across our diversified product suite, offering relevant solutions to our clients, and fully delivering on our strategic priorities.”
Lancashire’s operating subsidiaries are based in Bermuda and the UK. The group’s common shares trade on the premium segment of the Main Market of the London Stock Exchange.
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