Managing general agent (MGA) Sciemus is leaving its old identity behind.
Announcing major changes including a rebrand, the Lloyd’s MGA said it will now be known as Occam Underwriting. The new name was taken from the principle called “Occam’s razor,” whose premise is that the most straightforward solution is the best one when it comes to solving problems.
“Occam Underwriting will bring clear thinking, innovation, and data and analytics to complex insurance problems in cyber, space, energy, and other lines,” stated the London-headquartered firm, which not only underwrites specialty risk classes but also provides risk analytics and modelling to the insurance industry.
Aside from the MGA’s name change, there will also be a new man at the helm.
It’s been revealed that co-CEO Rick Welsh has resigned. The former AEGIS executive, who came onboard Sciemus in 2015, will be pursuing other activities after nearly three decades in insurance.
Lance Gibbins, who has been chairman and acting co-CEO, will become Occam Underwriting’s chair and chief executive. Meanwhile the roles of cyber head Dan Carr, space head Phil Duffin, and power head Ian Green remain unchanged.
“This marks the start of a new phase in which Occam is seeing expansion of its MGA footprint in emerging and complex risk classes,” commented Gibbins. “We will continue with this expansion and continue to consider capacity alternatives.”
