Asta, the leading third party managing agent at Lloyd’s, today announces the retirement of Stephen Cane and Stewart Laderman, effective 31 December 2016.
Both Cane and Laderman were instrumental in the establishment of Asta’s success and reputation as the foremost third party managing agent for Lloyd’s syndicates, skilfully transforming the business from a run-off provider under the Whittington banner to the forward looking business incubator that Asta has become. Since 2014 Asta has been successfully led by chief executive Julian Tighe, with Cane and Laderman stepping back into advisory roles.
Douglas Jacobsohn, chairman of Asta, said: “The knowledge and experience Stephen and Stewart brought to Asta, the breadth of their understanding and connections, and the commitment they gave have been invaluable assets to the business. I would like to thank them for everything they have contributed towards the success we and our clients continue to enjoy.”
Julian Tighe, CEO of Asta said: “Stephen and Stewart have played a pivotal part in putting Asta on the road to success. Simon [Norton] and I have learnt an enormous amount from them and the business values they exemplify, values that we continue to deliver to our clients as we grow and develop across the syndicate and now MGA start-up arena. All of us at Asta wish them an enjoyable retirement and thank them for all their hard work and commitment to our company.”
Cane added: “I have been impressed with how the business has continued to develop since I handed over the reins to Julian. Stewart and I will retire in no doubt that Asta enjoys firm leadership and excellent prospects. It is testament to the strength and depth of the senior team that succession comes from within.”
For further information, please contact:
Tel: + 44 20 7562 4444
Tel: + 44 20 7562 4444
Notes for Editors
Michael Rafter, Group Chief Executive Officer, Arma
Rafter is an innovative insurance executive with more than 26 years of experience covering various senior roles across the globe, with the past 11 years based in the UAE. Formerly the head of general insurance at Oman Insurance Company, Rafter has a long career in underwriting in the Middle East and other emerging markets, having previously held senior roles at AIG. His career has spanned all aspects of commercial and consumer lines through general management, underwriting, brokerage and reinsurance.
Hajar Fadel, Senior Executive Officer, Arma
Fadel is an experienced insurance manager, having spent the last 8 years working for the insurance industry in MENA. Prior to joining Arma, Fadel was Executive Vice President – Executive Management for the largest insurer in the UAE and managed partnerships with multinational insurers across lines of business. She has extensive experience in new market entry and expansion; and has launched first-to-market ventures across the Middle East.
Asta Managing Agency Ltd is the leading third party managing agent at Lloyd’s and is responsible for nine syndicates with capacity under management in 2016 of approximately UK£1bn:
Syndicate 1686 (Axis)
Syndicate 1729 (Dale Underwriting Partners) Syndicate 1897 (Skuld), SPA 6126 Syndicate 2357 (Nephila)
Syndicate 2525 (DL Dale & Others) Syndicate 2689 (Verto)
Syndicate 2786 (Everest)
Syndicate 4242 (ICAT), SPA 6123 (ICAT) Syndicate 5886 (Blenheim)
Asta Underwriting Management Limited (AUML) launched in 2015, making the skills, experience and capabilities behind Asta’s success as the leading third party managing agency at Lloyd’s available, for the first time, to the MGA market.
UK MGAs under management: