Chaucer chief executive to join Hampden
LLOYD’S members’ agent Hampden Agencies has appointed the current chief executive of Chaucer as a non-executive chairman.
Ewen Gilmour, who is also the deputy chairman of Lloyd’s, will take up the role on January 1, 2010, and replaces Nigel Hanbury, who is leaving Hampden at the end of this year.
Gilmour is retiring from the position of chief executive at Chaucer, whom he has worked for the past 11 years, at the end of 2009. Prior to joining Chaucer, Gilmour held the position of special projects manager at Amlin. He was appointed a chairman of Lloyd’s and a Member of Council of Lloyd’s in 2006, and also serves on the Lloyd’s Nominations, Appointments and Compensation Committee, as well as the Audit Committee.
Speaking to Insurance Day, Neil Smith, chief executive of Hampden Agencies, said Gilmour’s availability seemed too good an opportunity to pass up: “Ewen was retiring from Chaucer and it just seemed to be an absolute gift to us... He fits the bill in so many ways so it was a perfect match.”
In taking up the non-executive role, Hampden will benefit from Gilmour’s extensive experience in the Lloyd’s market, Smith explained. Hampden’s chief executive added Gilmour will help develop new opportunities for introducing private capital to the company as well as generating strong returns for its clients.
Gilmour joins the company at a time when the Lloyd’s market becomes increasingly attractive to private investors. According to Smith, all three Lloyd’s member agents — Alpha, Argenta and Hampden — have increased the number of their members for the 2010 policy year: “With equity markets coming under increased pressure and many asset classes underperforming, investors are seeking to diversify their portfolios,” he explained.
Despite the increased interest, Smith said many of those investors who have joined Hampden have been talking to the company for a considerable amount of time, and their decision to join the members’ agent was not necessarily as a direct result of the financial crisis: “The number of new clients was very pleasing [and] they are people we have been talking to for quite a while.”
