Ariel Re granted approval for Lloyd’s managing agent

Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has obtained approval from the Prudential Regulatory Authority, the Financial Conduct Authority and Lloyd’s to launch a managing agent at Lloyd’s of London. 

Ariel Re Managing Agency (ARMA) will assume the management of Ariel Syndicate 1910 together with SPA 6117 from Argo Managing Agency Ltd.

Ryan Mather, chief executive of Ariel Re, commented: “The establishment of a managing agency is a key milestone [for] Ariel Re… and further demonstrates our commitment to Lloyd’s. Both ARMA and our managed syndicates will benefit from streamlined administration and efficiencies, as well as the ability to leverage the expertise and resources of the Ariel Re group.”

Darren Lednor will be the managing director of ARMA. “We have assembled a top-class team at ARMA and are confident that having our own Managing Agency will enable us to increase the efficiency of our Lloyd’s business as well as deepening our relationship with Lloyd’s and the London market generally,” he said.

Other team members include:

• Mark Pickett, head of Underwriting Management in London, will assume the role of active underwriter of Syndicate 1910 and SPA 6117. He has previously held roles with J.P. Morgan, Lloyd’s and Argo Group.

• Chief financial officer Anouchka Gokhool has almost 20 years’ experience in the insurance market. She held senior roles at Catlin and Tokio Marine Kiln and was most recently director of Syndicate Finance for Hiscox.

• Chief actuary Jon Poole has 20 years’ insurance expertise, including a prior spell with Ariel Re. Most recently, he served as chief actuary for Blenheim Underwriting.

• Chief risk officer Rebecca Knowles joined Ariel Re in January this year and most recently served as deputy chief risk officer of Asta Capital Limited.

• Syndicate controller Martin Vincent was most recently head of Syndicate Reporting for Hiscox.

• Compliance officer Natalie Dick has many years’ experience in compliance at a variety of companies including Amlin, Chubb, Ark, Barbican and Arch Insurance.