Brokerslink vice chairman and outgoing Inver Re chief executive Steve Hearn will be succeeding SiriusPoint chair Bronek Masojada as chair of Placing Platform Limited (PPL).
The announcement comes following Hearn’s confirmation on LinkedIn that he is leaving The Ardonagh Group, parent of reinsurance broker Inver Re. News of him exiting the business this summer began circulating last week.
Commenting on his upcoming role, Hearn said in an emailed release: “Placing Platform Limited is a unique organisation, the largest digital provider for the London insurance market, non-profit making, and owned by the people who use it.
“PPL exists to help deliver the right digital placement for London, and I am excited to work with CEO Joe Gordon and our market partners, Lloyd’s, the associations, the Data Council, and the Joint Venture; on creating the insurance market of the future – a market that will be better, faster, and cheaper.
“Together, we’re creating one solution for the whole London market, unified around global data standards that will bring efficiency and reduce central processing costs.”
Aside from Ardonagh, Hearn’s credentials include time spent at Corant Global, Ed Broking, and Willis Group. He was also chair of PPL stakeholding organisations London Market Group and London & International Insurance Brokers’ Association.
“I look forward very much to working with Steve in his new role as chair,” Gordon commented.
“I would also like to pay tribute to the extraordinary leadership that Bronek has shown over the five years of his stewardship of PPL, ensuring that we have remained at the centre of market modernisation. On a personal level, I will hugely miss his wisdom and kindness. He will be sorely missed by everyone at PPL.”
Masojada, who is stepping down at the end of July, feels privileged to have held the position.
He stated: “It has been a privilege to chair PPL, working with the market to drive adoption with volumes increasing from 12,000 contracts per annum to over 200,000, supporting the market through the pandemic and to the successful launch of the Next Gen platform.
“I am delighted that such a hugely experienced and well-regarded industry figure as Steve Hearn is willing to step into the role of chair, and he does so at a critical time for the industry, as we move towards becoming a fully digital marketplace.”
What do you think about this story? Share your thoughts in the comments below.
