International Underwriting Association (IUA) has elected Malcolm Newman as its new chairman. Newman is managing director of SCOR’s London Hub. He takes over from Stephen Riley, executive director at Global Aerospace, who has led the association for the past seven years.
“The IUA plays a vital role representing the interests of the London company market,” said Newman. “In recent years it has facilitated major improvements in business processing and argued forcefully on the international stage to help open up opportunities in international markets for its members. On a day to day basis it also provides essential support for the underwriting and claims operations of its members.
“I am keen to build on these successes and utilise the association’s communal voice to further promote and enhance the business environment for re/insurance companies operating in London. The IUA’s own statistics project shows that the company market earned more than £22bn in premium during 2011 and is a crucial part of the UK economy.”
Newman was elected as chairman at the IUA’s annual general meeting in the London Underwriting Centre on 26 June. He has been a member of the IUA Board for four years. Prior to joining SCOR his career in the London Market included time as chief financial officer, London at Converium, director of risk and controls at XL Insurance and global head of finance at Winterthur International. He is a chartered accountant having qualified with PwC.
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