Following the appointment of James Masterton as Executive Chairman and CEO in the summer, Ardonagh Specialty today announces a new Specialty leadership team, overseeing the next chapter of growth for the Group’s independent specialist brokers Price Forbes and Bishopsgate Insurance Brokers.
Specialty is one of Ardonagh’s four platforms, alongside Retail, Advisory and Ardonagh Ireland. It recorded £152m pro forma income in the 12 months to 31 March 2020, and 10.7% organic growth for the quarter.
Antony Erotocritou has been appointed Managing Director of Ardonagh Specialty, expanding his responsibilities as Chief Financial Officer to oversee operations and change across the business.
Antony has been with Ardonagh since 2016 and held the role of Group Finance Director previous to joining the Specialty leadership team.
Richard Peers has been promoted from Deputy CEO to CEO of Price Forbes. As CEO, Richard will look to further enhance the growth opportunities created by the trading group structure in Price Forbes.
Richard has over 30 years’ experience across London, Bermuda and the USA and most recently led Price Forbes’ Property, Professional and Financial lines, Casualty, Life Science and Healthcare teams.
Greg Ferguson will take on the new role of CEO, International at Price Forbes* with a remit to drive forward its regional strategy and examine opportunities for acquisitions, joint ventures and strategic hires.
Greg joined Price Forbes in 2015. Throughout his career, he has worked as both a Lloyd’s underwriter and broker in a wide variety of specialisms, travelling extensively to work with clients across Latin America, Europe, Scandinavia, the Middle East, Asia Pacific and parts of Africa.
Graham Kilby has been appointed CEO of Bishopsgate Insurance Brokers, leading operations and the remit to expand in the Programmes and Binders arena and Energy as well as the UK focussed Specialty lines.
Graham joined the business in 2017 and since then has built out the broker’s successful North American Binder business.
Jonathan Turnbull will take on a new role on the Specialty executive committee. As Corporate Development Director*, Jonathan will focus on identifying and executing new growth initiatives across both brands.
Jonathan joined the business in 2018 and was CEO of Bishopsgate Insurance Brokers. He has broad experience having worked successfully at a senior level in the intermediary sector for over 25 years.
Executive Chairman and CEO of Ardonagh Specialty James Masterton commented: “Since Price Forbes became a founding part of The Ardonagh Group alongside fellow specialist Bishopsgate, both businesses have grown from strength to strength, investing in technology and talent to ensure our clients are best served by truly independent brokers focused on their individual needs.”
“As the world continues to evolve rapidly, the role of the intermediary has never been more important and in this new management team we are incredibly fortunate to be leveraging exceptional talent, specialist expertise and deep global relationships to successfully lead the strategic direction of both businesses in today’s market.
“As a holding company, Ardonagh Specialty is the platform from which we will execute and direct the investment needed for the next chapter of growth for Price Forbes and Bishopsgate across open market, programmes and international broking. Bolstered with the best talent, technology and products, we are poised to continue delivering solutions which our clients to succeed across a vast array of sectors and regions into 2021 and beyond.”
James assumed his role from Richard Ward, who now spearheads a number of strategic initiatives across the wider Ardonagh Group, including the Specialty platform, which aim to build efficiency, collaboration and operational excellence.
James has over 25 years’ experience in the insurance market, beginning as a broker of property programmes for North American corporations with Sedgwick and was most recently CEO of Price Forbes.
Ardonagh announced a committed £300m M&A facility from a range of institutional backers in July 2020.
*subject to regulatory approval