Arcus Syndicate 1856 at Lloyd’s of London, which is backed by funds under the management of the Credit Suisse insurance and reinsurance linked investment strategies team, has announced two senior promotions for Adrian Gfeller and Gary Delaney, as well as a number of other core team updates.
Adrian Gfeller has been promoted to the position of managing director for Arcus 1856 and Gary Delaney has been promoted to the role of head of operations, with both positions becoming effective as of August 1st, subject to regulatory approval.
The Arcus Syndicate 1856 team had undergone some leadership changes in the last year, after Rajiv Punja who led the syndicate and Nicky Payne the syndicates lead underwriter both departed.
But the promotions announced today provide continuity for the syndicates operations, as the pair had both helped Arcus 1856 through its early years in the Lloyd’s market.
Gfeller was previously the chief risk officer at Arcus 1856 from launch in 2015. He has extensive experience in analysing and pricing insurance risk and before joining Arcus had been a senior risk modeller in the Credit Suisse ILS team, based in both Zurich and London.
Delaney had been the syndicate manager at Arcus 1856 and so has a deep understanding of the Arcus 1856 syndicate’s underwriting operations. Before he joined Arcus, Delaney had been a class of business deputy executive at Lloyd’s.
Gfeller commented on the news, “I am delighted to be taking the helm at Arcus 1856 and to be announcing the promotion of Gary to head of operations. Our syndicate operates as a highly effective conduit between the capital markets and the re/insurance sector. In this dynamic marketplace, our diverse but balanced portfolio and underwriting stance enable us to respond quickly and capitalise on the developing potential we see. We will continue to focus on considered growth and profitability.”
David Booth has also been named as interim active underwriter for Arcus 1856. He was previously underwriting for Barbican Syndicate 1955 and will also continue in his role as director of underwriting for Barbican Managing Agency Limited which supports and provides services to Arcus, the company said.
In addition, the company has also announced that Sarah Smith, already an underwriter at Arcus 1856, has been appointed as acting deputy active underwriter for the syndicate.
“Barbican Managing Agency provides invaluable support to Arcus 1856 and we are delighted that David will act as interim active underwriter as we look to appoint a suitably experienced underwriter to fill the position on a permanent basis,” Gfeller said.
The promotions and appoint of an interim underwriting lead will help to fill the gaps left at Arcus 1856 and provide operational continuity.