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New Dawn Risk appoints Liz Strange as Head of Strategic Development

14 October 2021

New Dawn Risk is delighted to announce the appointment of Elizabeth Strange to the new role of Head of Strategic Development within the firm. The role has been created as part of a fast-paced global expansion, which has also seen the recent establishment of New Dawn Risk Europe Ltd.

New Dawn Risk has already built out strong teams in professional liability and financial lines, and within technology, media and cyber.  The appointment of Liz as Head of Strategic Development will enable the next stage of growth for the US and International businesses and allow New Dawn Risk to further build strategic relationships with brokers on a global basis.  

Liz herself has over thirty years’ experience in the Lloyd’s market, having previously held senior positions at Hiscox, Beazley and Paragon. 

Max Carter, CEO of New Dawn Risk Group commented: “Liz will be a fantastic asset to our team. She has incredible relationships in London and the US, and her reputation in the space precedes her. I know that she is the perfect person to develop our business, to identify strategically aligned partner producers and to help fulfil our plans.”

Liz Strange, Head of Strategic Development at New Dawn Risk commented: “The specialist focus at New Dawn Risk aligns perfectly with my own experience, and I believe that together we will make a great team, targeting expansion across all regions and all lines. One of my priorities will be to build upon our high-quality and enthusiastic teams with an ambition to accelerate growth.  It is exciting to step into such a fast-moving business, and one that has huge potential to make further impact in the market.”

Notes to Editors

Established in 2008, New Dawn Risk is a specialist insurance broker providing dynamic advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

5 October 2021

New Dawn Risk Group is delighted to announce the launch of its new European subsidiary, New Dawn Risk (Europe) headquartered in Malta. Like its parent company, New Dawn Risk (Europe) focuses on financial and professional lines. The new business will not only directly serve the growing financial and technology services industries in Malta but will also have the capacity to deliver solutions for New Dawn Risk’s global clients who have European operations with complex financial lines requirements. 

The new European operation will be led by Elizabeth Grima and Tom Malcolm, respectively appointed as Senior Executive Officer and Managing Director, assisted by Joseph Rizzo who has been in the insurance sector for more than 30 years.

Max Carter, CEO of New Dawn Risk Group said: “The market for professional and financial lines is facing challenges on several fronts, as pricing continues to harden, and the complexity of placing risks increases. Our group has seen significant demand for our services internationally, and as a result we are delighted to be able to bring our offering to market in Europe; both in service of our larger global clients and to support the in-market requirements of Malta’s own financial services industry.”

Elizabeth Grima, Senior Executive Officer, New Dawn Risk (Europe), commented: “Our offering in Malta will be exclusively wholesale, working with local brokers to provide them and their clients with additional (and much needed) capacity to service larger and more complex financial lines risks. New Dawn Risk Group is one of the largest independent specialist brokers servicing professional and financial lines business around the world, and it is great to have access to that team on the ground in Malta.”

Notes to Editors Established in 2008, New Dawn Risk is a specialist insurance broker providing dynamic advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

02 September 2021

New Dawn Risk Group Limited, the international specialty insurance broker, announced today the appointment of Angus Simpson as a non-executive director.

Max Carter, CEO of New Dawn Risk, said: “We are delighted to welcome Angus Simpson to our board.  He brings with him a rare depth of board-level experience in the independent London market broking sector, and we have no doubt that he will provide valuable insights and support to our management team.  New Dawn Risk is strongly positioned to become an increasingly influential participant in the specialty liability market, and Angus will be a major asset in helping us to achieve this.”

Commenting on his appointment, Angus Simpson, said: “I am hugely excited to be joining the Board of New Dawn Risk at what is, unquestionably, a time of immense opportunity for specialty, privately held, independent brokers in the London market. New Dawn Risk is committed to broadening the range of products and services that it can offer to its clients and is now very well positioned to grow its business over the next few years.”

Angus has a wealth of experience with a career spanning 35 years in the insurance industry. He has set up two businesses, an insurance broker and a Managing General Agency underwriting specialist personal lines business. Earlier in his career, he was a director of a Lloyd’s Broker and ran the Central Broking team at Aon Risk Solutions. Angus has also served as a non-executive director for Kite Warren and Wilson Limited, a Lloyd’s insurance and reinsurance broker.

Notes to Editors

Established in 2008, New Dawn Risk is a specialist insurance broker providing dynamic advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

Latin American insurance markets are becoming more international and seeing regulatory improvements in some areas.  However, the challenges are growing for financial lines, as the global rate increases currently seen in D&O and aligned capacity / rate crunches in cyber cover begin to bite.

New Dawn Risk’s latest white paper Connecting across continents: International reinsurance solutions for Latin America is launched today, and highlights the interactions between Latin American markets and London, as well as the tensions that capacity and rate issues can bring.

Download the white paper in English or in Spanish here.

Max Carter, CEO of New Dawn Risk, said: “Latin America is seeing growing demand for increasingly complex insurance products.  One notable development has seen local brokers putting together in-country consortia to cover some larger risks, reducing their reliance on London. But the need for international cyber and financial lines cover is growing on a steady trajectory. Claims continue to spike in cyber, with ransomware being the most noted ‘problem child’, causing prices to be steeper than the broader class. These lines are seeing decreased local capacity, creating a growing need to look to London for its expertise and appetite in these areas.”

Manuel Sicard, Senior Broker for Latin America, commented “The link between London and Latin America is strengthening, and it is now more relevant than ever to examine what each market needs to know about the other to help trade flow more smoothly. We have brought together views from Latin American experts both in-country and in London, along with our own insights as a specialist broker dealing with both regions, to publish our first Latin American market report.”

Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

New Dawn Risk has today launched its latest white paper on insurance for the US legal cannabis, CBD and hemp markets. The 2021 report is called “Opportunity knocks at last in the US cannabis insurance market”.

Download the white paper here.

Since the publication of the previous report in 2020, US sales of medical and recreational cannabis have grown exponentially, reaching $17.5 billion in 2020, a 46 percent increase from 2019. In addition, the legislative landscape in the USA has been transformed by the arrival of the pro-cannabis Biden presidency, supported by a Democratic majority in both Houses.

A new CLAIM (Clarifying Law Around Insurance of Marijuana) Act has been introduced to the Senate, alongside the parallel SAFE Banking Act, and both are expected to pass into law by the end of 2021.  This will at last permit insurers to work with the cannabis industry legally; and will also reduce some of the insurance risks that previously dogged the industry.  For example, D&O cover will become a legally available option, and marijuana businesses will be able to regularise their banking and cash operations.

The updated white paper examines the key drivers of growth whilst exposing both the potential premiums and the size of the insurance gap for the cannabis industry in the US. Headlines include:

  • 36 US states, and Washington D.C., have now legalised cannabis for medical or recreational use.
  • Americans now spend almost as much on legal marijuana products as they do on Coca Cola.
  • Cannabis dispensaries were deemed “essential businesses” by many states and therefore remained open during lockdown.

Max Carter, CEO of New Dawn Risk, commented: “The legal and regulatory environment of the cannabis industry has transformed over the past year.

“The changing attitude towards the cannabis industry, and new State and Federal legislation present an exciting opportunity for insurers to work with growers and sellers. With legalisation of banking and insurance, the door seems likely to open to what could be a $1bn premium market.

“On the consumer side, cannabis was deemed an “essential business” during the Covid-19 pandemic, and the growth of the sector seems inexorable. New Dawn Risk is committed to working with carriers and clients to share knowledge and insights to help identify and deliver cover for this untapped market.”

Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

New Dawn Risk Group Limited, the international specialist insurance intermediary, announced today the appointment of Manuel Sicard to lead the company’s expansion into Latin America.

Max Carter, CEO of New Dawn Risk, said: “Latin America is a dynamic and developing region that is experiencing growing demand for increasingly complex insurance products, translating into a broad range of opportunities for international reinsurers.  Given that this is relatively uncharted territory for some, cedants and reinsurers alike need to know their broker can provide local specialist knowledge of the markets they are operating in. Manuel’s depth of experience in the region – spanning underwriting, broking and risk management – combined with the strength of the relationships he has built up over more than two decades working in the industry, means we are now able to offer clients a more engaging and valuable proposition in Latin America.”

Prior to joining New Dawn, Manuel was vice-president, financial lines at Guy Carpenter. He previously held a similar role at Willis Towers Watson in London. Earlier in his career he worked in Colombia as a reinsurance analyst for Allianz and a risk consultant at RE Ingenieria. He has an MBA from the University of Cardiff.

Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

Moves come as clients demand alternatives to ‘big brokers’

New Dawn Risk, the international specialist insurance intermediary, today announced the launch of a new division focused on the UK market. It will provide liability and specialty solutions direct to insurance buyers, as well as partner with UK regional brokers looking for a bespoke and specialist service. The new offering will mirror New Dawn’s existing offering for international businesses.

Max Carter, CEO of New Dawn Risk, said: “At the moment in the UK market there is clear demand for an alternative to the larger broking houses and our new division will bring New Dawn’s independent, high-touch and tailored approach to the UK for the first time. Many businesses that need insurance are suffering the effects of a difficult and uncertain trading environment, while broker consolidation and soaring rates in some classes bring opportunities for specialists to make a difference for particular groups of buyers.”

Tom Malcolm, Head of UK Broking, said: “Now, more than ever, the UK market is crying out for brokers that have the requisite skillset and expertise to steer businesses through these challenging times. Our newly established UK division is well set to meet these demands via our team of product specialists who put client service at the core of everything they do.”

To find out more visit www.newdawnrisk.co.uk

Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

For further information contact: Victoria Sisson, Luther Pendragon, +44 7941 294872

New Dawn Risk’s report casts light on the improved prospects for international firms as India aims to deploy drones, satellites and mobile technology in an effort to cut insurance costs

Download the white paper here.

Singapore, November 2nd 2020: Lloyd’s broker New Dawn Risk has today launched its new report: Technology brings new opportunities for India’s crop insurance scheme

The report details changes that have been made to the government-sponsored scheme during 2020, which are designed to make it more efficient and ultimately more attractive for the nation’s farmers and for participating insurers.  These include the introduction of a three-year contract for insurers; and strict rules to both prevent delays in claims handling and avoid moral hazard.

The centre point for change, however, is the introduction of a range of new technologies, including a mobile portal, and the use of sophisticated drone and satellite technologies.  All of these are designed to allow automated handling of the many claims that the scheme generates, and, ultimately have the power to transform the profitability of the scheme for insurers and reinsurers.

Contributing to the report, the Agricultural Insurance Company of India commented: “With the advent of new concepts in agriculture, the scope for crop / agriculture insurance in India is vast. The main challenge is consistency. The scheme has changed drastically in a very short space of time. Reinsurers believe there is ample opportunity but only if they decide to commit to this product for the longer term and take a long-term view despite the changes.”

Max Carter, CEO of New Dawn Risk commented: “India could certainly see new reinsurers entering its state-sponsored agricultural insurance market if costs were driven down for the local insurers, who have previously borne heavy administrative and operating costs.”

“The increased use of satellites and drone imagery technology and adoption of high-quality mobile apps to carry out CCE’s, remote sensing methodologies to assess crops and low-lying satellites (LEOs), means that India has taken positive steps towards increasing efficiency and reducing costs of administration. We hope that, with such positive news, our guide will be a useful source of information for international reinsurers who might consider participating in this refreshed scheme.”

For more information: Victoria Sisson, Luther Pendragon, +44 (0)7941 294872

London, October 27th 2020: The London chapter of PLUS (the Professional Liability Underwriting Society)  met last week for a  webinar to talk through the evolution of the market, in a session entitled “London, You’re on Mute! The New Normal”

In a sign of both the importance of the topic, and the growing usage of virtual events, a record 160 members of PLUS in both London and North America gathered to debate the topic alongside panel members:

  • Julian James, CEO, Sompo International
  • James Masterton, CEO, Ardonagh Specialty
  • Kim Noble, Senior Vice President, Thompson Flanagan
  • Chris Warrior, Head of Commercial Management Liability UK, Berkshire Hathaway Specialty Insurance
  • Brenna Westinghouse, Focus Group Leader and Underwriter, Professions PI, Beazley

The panel was moderated by Max Carter, CEO of New Dawn Risk.

Following the debate, the audience was asked for their views on how the market is currently working, and the results were positive.  Of 160 members polled:

  • Only 14% of respondents wanted to return to work full-time in their office.
  • 16% of respondents said they would want to work mainly at home permanently, while 70% would want to spend half their time in the office.
  • 38% said that they were more productive since Covid-19, 44% said that their productivity had remained the same, and 18% said it had fallen

Max Carter, CEO of New Dawn Risk and Moderator of today’s PLUS webinar commentedThis debate brought broad consensus that the way we work has permanently changed. For an industry that has not historically been known for thriving with technology, the market was able to adapt quickly and continue trading without missing a beat during 2020, and this has helped acceptance.”

“Relationships have been the hallmark of the success of the London Market in the past. If we are to have continued success in the future, we have to find ways not just of maintaining existing relationships in this new working environment, but of forging new ones.”

“The situation that we are currently facing is unprecedented; there is no established playbook or roadmap for navigating our way through it. That’s why events like this week’s PLUS debate are so important. We might not have all the answers, but reaching consensus on the questions we should be asking is an important step in the right direction.”

For more information: Victoria Sisson, Luther Pendragon, +44 (0)7941 294872

New Dawn Risk Group Limited, the international specialist insurance intermediary, has announced it is entering into a partnership with Singapore-based SpecialistRe, to strengthen its reach and offering across China, Japan and South-East Asia.

Max Carter, CEO of New Dawn Risk, commented: “At this time of unprecedented change, Asia is powering growth in the global insurance industry. We have been tracking opportunities in the region for some time, and our new partnership with SpecialistRe – a well-established presence in Singapore – will help us to deliver experienced expertise for treaty reinsurance in the specialty space. As we further extend our international footprint so we can best meet the evolving needs of cedants and reinsurers, we will continue to maintain our core focus on professional indemnity, financial and specialty liability lines, as well as accident & health, both on the direct and on the reinsurance sides.”

SpecialistRe was originally established in Malaysia and has been operating in Singapore since 2015 as an advisory and consulting firm with a strong focus on treaty reinsurance. SpecialistRe utilises technology in association with its insurtech partners to provide fast and innovative risk transfer arrangements for its network of cedants across Asia. 

Andrew Harris, Managing Director at SpecialistRe, said: “We are delighted to be partnering with New Dawn Risk at this time of evolving change in the reinsurance market. The ability to provide independent treaty capability in these specialist growth areas is an exciting development that will allow us to broaden the range of solutions we can provide to clients.”   

Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary and a Lloyd’s broker providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

For further information contact: Victoria Sisson, Luther Pendragon, +44 7941 294872