Dale Partners Ltd. gets regulatory nod to launch Lloyd’s Managing Agency

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Dale Partners Ltd. (DPL) has announced that it has received approval from the UK’s Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) and Lloyd’s to launch its management agency, Dale Managing Agency Ltd.

DPL also announced that it has appointed four Independent Non-Executive Directors (NEDs) to join the Dale Managing Agency’s board of directors.

“This is fantastic news and an important milestone in the development of Dale Underwriting Partners,” said Duncan Dale, CEO. “It has always been our long-term goal to establish our own management firm to give us independence and responsibility for the strategy, execution and governance of the company. Of course I would like to thank our great team. Their hard work, dedication and resilience have brought us to this point.”

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Dale thanked the team at the third-party management firm Asta “for their tremendous support over the past nine years.”

The four new NED board members are:

  • John Hastings-Bass is chairman of the board. Hastings-Bass is also chairman of Just plc and BMS Group. His previous appointments include Director of JLT Group, Chair of International Development for AJ Gallagher and Chair of Novae Group Plc.
  • Heather McKinlay chairs the Audit Committee. McKinlay is also currently a NED for Antares Syndicate Management Ltd. and trustee of RedR UK, a humanitarian charity. McKinlay has more than 20 years of experience contributing to companies of all sizes, specializing in the transformation and development of finance functions in previous CFO and Executive Director roles in the non-life insurance industry.
  • Alan Grant chairs the Risk Committee. Grant is also currently a NED for Oneglobal Insurance Brokers Ltd. Grant’s previous appointments include: Chairman of the Risk Committee at Thomas Miller Holdings Ltd. and chairman of the Risk Framework and Compliance Committee of Argenta Syndicate Management Ltd.
  • Jan Hume. Hume is the former chairman of XL Re Europe. He has more than 35 years of experience in financial services, provides strong guidance in finance, business strategy, operations and culture, and successfully leads major transformation projects.
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Duncan Dale, Dominic Peters (active underwriter) and Carol McCarthy (financial director) also join the board of Dale Managing Agency Ltd.

Dale Underwriting Partners is an independent, owner-managed insurance company that began on January 1, 2014 with the founding of Lloyd’s Syndicate 1729.

Source: Dale Partners Ltd.

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