Cathedral Underwriting Limited
Managing Agent Name: Cathedral Underwriting Ltd
Subject: Governance changes
Syndicate(s) Affected: 2010 & 3010
Since 31st March 2016 there have been some material changes to the Cathedral Underwriting Limited (managing agent of Syndicate 2010 and aligned Syndicate 3010) board and management team which have been duly publicised.
These changes are as follows:
|Original Board Constitution||Position||Ceased/Remained||Replacement||Revised Board Constitution|
|Tony South||Chairman||Ceased 30/06/2016||Replaced by Tony Minns||Tony Minns (until 28/02/2017)|
|Derek Grainger||Compliance Director||Ceasing January 2017||To be replaced from January 2017 by Emma Woolley||Emma Woolley (likely from January 2017)|
|John Hamblin||Director and Active Underwriter||Ceased 12 April 2016||Replaced by *Richard Williams|
14/06/2016 (until Q1 2017)
|Lawrence Holder||Managing Director||Ceased 27/07/2016||Replaced by Marion Maddon|
Interim Managing Director (Awaiting PRA approval)
|John Lynch||Finance Director||Ceased 31/03/2016||Replaced by Heather McKinlay||Heather McKinlay|
|Alex Maloney||Non-Executive Director||Remains|
|Tony Minns||Independent Non-Executive Director||Remains until 28/02/2017|
|Robin Oakes||Independent Non-Executive Director||Ceased 31/08/2016|
|Elvin Patrick||Non-Executive Director||Ceased 21/04/2016|
|Peter Scales||Director||Ceased 31/03/2016|
|John Tilling||Independent Review Non-Executive Director||Remains|
|Richard Williams||Director and Active Underwriter (3010)||Cease as Active Underwriter and Director Q1 2017||Replaced by J Spence|
(Awaiting Regulatory approval)
|Richard Williams||Director and Active Underwriter (2010)||Cease as Active Underwriter and Director Q1 2017||To be replaced by Jon Barnes, who joins in January 2017||Jon Barnes (subject to regulatory approval)|
|S Fraser INED 29/02/2016|
L Gibbins INED
N Davenport INED
*Richard Williams will cease as Active Underwriter for Syndicate 2010 and as a Director on the appointment of Jon Barnes in January 2017, subject to the necessary regulatory consents. Jon has over 25 years’ experience in the Lloyd’s market, most recently as deputy underwriter at Syndicate 2121. Richard Williams will remain in place pending approval to Jon’s appointments.
In addition to the departure of John Hamblin, certain members of the 2010 property treaty team have also left during the course of the year. These individuals have been replaced with individuals of similar experience and expertise.
Simon King stepped down as the D&F account underwriter in February 2016 and was replaced by his deputy, Richard Wood.
The Contingency Account Underwriter for Syndicate 2010 tendered his notice of resignation on 25th October 2016, and management are reviewing the position.
Operational support leavers include the heads of Claims, IT, Exposure Modelling and Reinsurance. The company is in the process of recruiting suitable replacements.
Date issued: 28 October 2016
Agency contact name: Derek Grainger
Agency contact no: + 44 (0) 20 7170 9000
For auction office use only: D2016007
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