Barbican appoints Booth to new role of underwriting director
12 October 2017
Barbican, the private equity owned Lloyd's insurer, has promoted Andy Caldwell to active underwriter of its Syndicate 1955 with his predecessor David Booth being appointed to a new role of director of underwriting.
The insurer - which celebrates its 10th anniversary next month - said today (12 October) Booth will be responsible for overseeing the group's underwriting and reinsurance strategy as well as performance oversight for all managed syndicates.
Booth joined the Carlson Capital-owned insurer in 2008 and became active underwriter of its Syndicate 1955 in 2013. His appointment comes as the group continues to expand its third-party management of underwriting entities, such as its forthcoming SPA syndicate with Japanese reinsurer Toa Re, which is expected to begin underwriting at Lloyd's in 2018
Its management of third-party businesses provides steady fee income to complement the underwriting and investment returns from its own risk-taking entities.
Iain Bremner, the managing director of the Barbican Managing Agency (BMAL), remarked:
"The creation of the director of underwriting role reflects the considerable success that BMAL has had in recent years, particularly in attracting and developing third party partnerships". re