Lancashire Holdings makes internal promotions as Perrier steps down

10th Sep 2018 08:38

(Sharecast News) - Lancashire Holdings announced the appointment of James Irvine as the chief underwriting officer for Lancashire Insurance Company in Bermuda on Monday, with effect from 1 October, subject to immigration and regulatory approvals.The FTSE 250 firm also announced the appointment of Ben Readdy as the group chief actuary, with effect from 1 January 2019, also subject to immigration and regulatory approvals.It said Irvine and Readdy were replacing Sylvain Perrier, who had held the positions of chief underwriting officer for LICL and group chief actuary since March 2013 and March 2006 respectively.Perrier had been with the group since its inception, and was said to have been "instrumental" in building its actuarial function.Lancashire said Perrier would continue to work as the group chief actuary until 1 January 2019, and then would continue working for the group in a strategic consultancy role from that date.The board said Irvine joined Lancashire in April 2010, and was currently LICL's deputy chief underwriting officer in Bermuda, with responsibility for its property reinsurance portfolio.In his new role as chief underwriting officer for LICL, he would report to Lancashire Holdings' chief underwriting officer Paul Gregory.Readdy, meanwhile, joined Lancashire in June 2010 and was currently deputy group chief actuary."I would like to congratulate James and Ben on their well-deserved promotions," commented Paul Gregory."James has played a key role in the development of LICL's business and underwriting strategy and will continue to uphold our very high standards of underwriting discipline, client service and risk management."Ben has played an important part in the development and management of the group's actuarial functions and I know will continue to bring insight and rigour to his new role."