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Statement From Dave Brosnan

CNA Hardy has confirmed its plan to exit Property Treaty, Marine Hull and CAR/EAR business on the Lloyd’s platform...

Dave Brosnan, CEO, CNA Hardy commented:

 

“Our goal as an organisation is to generate profitable growth so that we can continue to deliver for our clients. To achieve that we must focus on building profitable books of business by keeping a sharp eye on the quality of our underwriting and on portfolio management. In tandem, we must also look at ways to enhance our productivity through greater efficiencies and alignment whilst taking advantage of the strengths and synergies that already exist across our business.”

 

With immediate effect, CNA Hardy will cease to write Property Treaty, Marine Hull and CAR/EAR at Lloyd’s. These lines have struggled to deliver consistent profitability even in light of improving market conditions. Together they represent a small component of the firm’s business

 

Patrick Gage, Chief Underwriting Officer has chosen to leave the company. He will stay with the company until the end of the year to ensure stability and a smooth transfer of responsibilities. Lloyd Tunnicliffe, Head of Property, will also be leaving the company at the end of the year. Both Patrick and Lloyd have made significant contributions to the business over the past several years and will be missed.

 

Going forward, CNA Hardy will move from four to three business units. Our remaining Property business lines will merge with Marine and Energy creating a new Property, Marine and Energy business unit under the leadership of Carl Day who will work closely with Lloyd Tunnicliffe through to the end of the year to ensure minimum disruption for staff, brokers and customers.

 

Specialty, led by Rhonda Buege and Casualty led by Craig Bennett remain unchanged.

 

Brosnan comments: “We will use this as an opportunity to redeploy capital, resources and talent to build out our other products and industry specialisms to drive profitable growth. This will ensure that we continue to invest our resources in those areas where we can achieve critical mass and sell our value proposition.”

 

Visit us here: www.cnahardy.com

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