Lancashire Holdings founder to leave at end of April

16th Apr 2014 08:08

The founder and Chief Executive Officer (CEO) of Lancashire Holdings, Richard Brindle, has revealed his plans to retire from the group at the end of April.His role will be filled by Alex Maloney, the current Chief Underwriting Officer and CEO of the group's operating subsidiary in the UK, who will in turn be replaced by Paul Gregory, the Chief Underwriting Officer of Lancashire Insurance Company (UK).Brindle, who has been in the role for nine years, said "the time is right" for him to retire. "I have piloted the company through its design, creation, launch, establishment as a major player in its sector, business success, delivery of tremendous results to shareholders, and ability to operate nimbly and intelligently in markets both hard and soft," he explained. He added that he will move on "in the sure knowledge that the business is healthy and in good shape". Maloney joined Lancashire in December 2005 and since 2009 has been Group Chief of its underwriting operations. Since November 2010 he has served as a member of the board and became CEO of Lancashire Insurance Company (UK) in 2012. Gregory took up a position on the underwriting team in May 2007 until January 2009, when he was appointed Chief Underwriting Officer for Lancashire Insurance Company (UK) becoming responsible for all lines of business written from the Lancashire London office. NR