London, 22 September 2022: Dale Partners Limited (DPL) has announced it has received approval from the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) and Lloyd’s to establish its managing agency, Dale Managing Agency Limited.
DPL also announced it has appointed four independent Non-Executive Directors (NEDs) to join its Dale Managing Agency Limited Board.
“This is fantastic news and a major milestone in the development of Dale Underwriting Partners,” said Duncan Dale, Chief Executive. “It has always been our long-term goal to establish our own managing agency to give us the independence and accountability for the strategy, execution and governance of the business. Naturally, I would like to thank our amazing team. Their hard work, dedication and resilience have brought us to this point.
“This is a tremendous endorsement of our team and to supplement the 50 managing agents currently managing live syndicates in the Lloyd’s market is an honour and privilege.
“I would like to thank all of the team at Asta for their tremendous support for the past nine years. This has paved the way for us to take the next step in the evolution of our business at Lloyd’s.
“We are also extremely grateful for the hard work and commitment to making this happen by the teams in Lloyd’s, the PRA and FCA and look forward to working with them into the future.”
The four new NED members of the Managing Agency Board are:
- John Hastings-Bass is Chair of the Board. John is currently also Chair of Just plc and BMS Group. John’s prior appointments include; Director of JLT Group, Chair of International Development for AJ Gallagher and Chair of Novae Group Plc.
- Heather McKinlay is Chair of the Audit Committee. Heather is currently also a NED for Antares Syndicate Management Limited and trustee of RedR UK, a humanitarian charitable organisation. Heather has more than 20 years of experience in contributing to businesses of various sizes, specialising in the transformation and development of Finance functions in previous CFO and Executive Director roles in the non-life insurance sector.
- Alan Grant is Chair of the Risk Committee. Alan is currently also a NED for Oneglobal Insurance Brokers Ltd. Alan’s prior appointments include; Chair of the Risk Committee at Thomas Miller Holdings Ltd and Chair of the Risk Framework and Compliance Committee of Argenta Syndicate Management Ltd.
- John Hume. John is the former Chair of XL Re Europe. John has more than 35 years’ experience in financial services companies, providing strong guidance on Finance, Business Strategy, Operations and Culture and successfully leading large transformation projects.
Duncan Dale added: “We are delighted to be able to attract such high calibre industry professionals to our Board of Directors. Their enthusiasm, wide industry experience, knowledge and wise counsel will be invaluable as we launch Dale Managing Agency Limited.”
John Hastings-Bass said: “I am excited to join the Board of Dale Managing Agency. It is a major milestone in the development of the Dale business at Lloyd’s and I look forward to working with Duncan and his team in guiding the business to further success in the future.”
Duncan Dale, Dominic Peters (Active Underwriter) and Carol McCarthy (Finance Director) also join the Dale Managing Agency Limited Board.