Tiernan announced as new IUA chairman

Patrick Tiernan, managing director of UK Commercial Lines & Global Corporate & Specialty at Aviva, has been elected chairman of the International Underwriting Association.

Mr Tiernan has been a member of the IUA Board since 2017 and takes over from Malcolm Newman who is stepping down after seven years in the role.

“I am delighted to be leading an organisation that plays a key role in maintaining London’s position as the world’s leading insurance centre. The IUA enables us to respond more effectively as a market to many different underwriting, claims, processing and regulatory challenges," Mr Tiernan said.

“Under the dedicated chairmanship of Malcolm Newman the association has thrived and membership has grown to record levels. I now look forward to working with companies to re-establish our strategic priorities in the months ahead and cooperating with other organisations across the market to cement London as the world’s preeminent underwriting centre for the risks and customers of the future.”

Mr Newman said: “During my time as chairman the London company market’s response to issues such as Brexit and COVID-19 has been all the more effective because of our ability to speak with a unified voice to government and regulators. Cooperation has also allowed us to modernise our market, introduce electronic trading, put in place a framework to support UK Insurance-Linked Securities activity and many other enhancements. I would like to thank my fellow board members for their support and the IUA’s chief executive Dave Matcham.”

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