London-based independent MGA, Pardus, has launched a contingency facility and appointed a new underwriter, the firm announced today.
Pardus said that the facility, which is backed by Lloyd’s security, led by XL Catlin, will help the company continue to expand its underwriting capabilities.
Wayne Paternoster has been appointed contingency underwriter, joining the firm from Markel International in London where he was the divisional managing director of the specialty unit.
Bringing more than 20 years’ experience as an underwriter, Paternoster will be part of the executive management team overseeing Pardus’s underwriting activities and exploring future opportunities in line with the strategy of developing a multi-lined MGA based in London, the company said.
Keith Thompson, chief executive of Pardus, said the firm was delighted to have hired “such a highly-regarded and talented individual.”
“He brings a wealth of experience to Pardus and he will be very much part of the management team growing existing business lines and identifying new opportunities that we can bring to the market,” Thompson continued.
“We have steadily grown the business over the past two years in what continues to be a very challenging and highly competitive market place.”
Pardus, which launched in July 2014, has developed underwriting products covering forestry, trucking, property, property facultative and accident and health.
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