WESTFIELD CENTER, Ohio, Dec. 14, 2023 /PRNewswire/ -- Westfield Specialty is forming a team to lead its entry into international property direct and facultative (D&F) insurance.
The new International Property division will be led by Richard Wood, Executive Vice President, Head of Property, International Insurance, who will join the company in July 2024. Chris Prior will join as D&F Property Class underwriter in December 2023 to begin underwriting for the 2024 year of account. The existing International Property team led by Matt Stollery, Head of Property - Binding Authorities, will report to Richard.
Richard Wood joins Westfield Specialty from Lancashire Group, where he was Group Head of D&F Property. He was responsible for property underwriting at Syndicate 2010, Lancashire Insurance (UK) and Lancashire Australia Sydney.
Richard brings a wealth of experience to Westfield Specialty, having spent 20 years at Lancashire Group (originally as part of the Cathedral Capital). Prior to Lancashire, Richard worked at Catlin Group where he led the Direct Property portfolio, responsible for Property underwriting at Syndicate 2003 along with the Singapore and Houston offices. Prior to joining Catlin, Richard served at Hiscox as Deputy to the Principal Property underwriter writing a Global portfolio.
Chris Prior joins Westfield Specialty from Inigo Syndicate 1301, where he was instrumental in the build out of the property D&F portfolio, while also interacting extensively with Lloyd's, reinsurers, and capital providers. Chris's prior experience also includes working in Willis's reinsurance division and D&F property underwriting at Cincinnati Financial Syndicate 318.
"As we continue to diversify our overall portfolio, we now have an increasingly appealing offering to serve needs in the international property D&F market," says Westfield Specialty President Jack Kuhn. The new business builds on Westfield's 2023 acquisition of Lloyd's of London Syndicate 1200.
"There are few things more rewarding than seeing a growth plan come to fruition," says Graham Evans, Executive Vice President, Head of International Insurance for Westfield Specialty. "Both Richard and Chris bring significant underwriting expertise and leadership capabilities. I look forward to the new international property D&F team making a difference for new and existing clients with superior service, customized solutions, and exceptional underwriting."
About Westfield Specialty
Westfield Specialty, launched in July 2021, underwrites in six lines of business: E&S property, E&S excess casualty, professional lines, financial institutions, management liability, and environmental. In 2022 Westfield Specialty wrote $1 billion in gross written premium.
About Westfield
Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, 175 years later, as a leading U.S.-based property and casualty insurance company with $10 billion in GAAP assets, Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of over 1,000 leading independent agents and brokers. Westfield recently acquired Lloyd's of London Syndicate 1200, establishing the company as a global franchise. Learn more at www.westfieldinsurance.com.
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