IGI appoints new Head of Property, Political Violence and Contingency
International General Insurance Holdings Ltd. has announced that Richard Foster has joined the Company, based in its London office.
As Head of Property, Political Violence and Contingency, Foster will be responsible for the Company’s property and political violence lines of business, and the newly created contingency insurance line of business. The Company will be launching the contingency line of business to take advantage of the considerable opportunity in this line stemming from market dislocation caused by COVID-19.
Foster, who has 24 years of specialty lines underwriting experience, joins from London-based Agile Risk Partners, where he was Director of Underwriting. Previously, he was Head of Global Property, London for Zurich Insurance PLC and Brit Global Specialty, and prior to that held senior roles with Allied World (AWAC).
The contingency line will primarily cover event cancellation, interruption or curtailment of events, non-appearance, and/or other contractual obligations.
“We are excited to welcome Richard to IGI,” said IGI UK CEO Mr. Andreas Loucaides. “He comes with significant underwriting experience and will be a strong fit as IGI continues to grow and evolve. The addition of the contingency line of business complements our existing portfolio of specialty risks, and consistent with our measured underwriting approach, we will develop the contingency business with the same level of pragmatism and commitment to underwriting profitability.”
Authored by IGI
About IGI
Established in 2001, International General Insurance (IGI) is a global privately-owned specialist commercial insurer and reinsurer. Our vision is to be the company of choice for clients and brokers through market-leading service and our reputation for stable management and capital security.
A diverse and highly experienced team of underwriters operates our office in London. We also have offices in Dubai, Amman, Casablanca and Kuala Lumpur.
Our diverse portfolio of specialty lines includes Energy, Property, Construction & Engineering, Ports & Terminals, Financial Institutions, Aviation, Professional Indemnity, Political Violence, Legal Expenses, D&O, Casualty, Forestry and Treaty Reinsurance.
Standard and Poor’s upgraded our financial strength rating to “A- “, with a Stable outlook. A.M. Best rated the company A- (Excellent), with a Positive outlook, stating, “the revised outlook reflects IGI’s consistent record of very strong operating performance and the continuous improvement in its enterprise risk management framework.”
We take pride in providing proactive claims management, coupled with open communication, leading to the efficient handling of claims. We endeavour to act fairly and honourably in our relations with clients and brokers.