Industry Needs to Remain Upbeat Sheehy

The CEO of specialty Managing General Agent Fiducia has said that the market has to deliver more positivity and greater support to brokers and their clients.

Gerry Sheehy (pic) made his comments as his firm announced that they had recruited three more staff to beef up their team in the expectation that the market will see an uptick in the months to come.

Mr Sheehy added the company was pleased that it has been able to continue to expand operations despite the disruption caused by the pandemic and the steps taken to minimise its spread across the UK and beyond.

“Our ability to support our broker partners and their clients has not been impacted by COVID-19. The needs of policyholders have changed due to the social distancing measures and the effects of the global economy on trade.

“Those changing needs have presented challenges to brokers and we have been pleased to be in a position to support our broker partners in overcoming those challenges on behalf of their clients.”

“At a time when the industry has been placed under extreme pressure we are delighted that we can provide a positive example of how the strength of relationships, and the maintenance of a ‘can do’ attitude can benefit, brokers clients and underwriters alike,” he added.

Leeds-based Fiducia, has appointed Scot Dowson as underwriter, with Claire Kilbane and Ben Warburton joining the firm to support the growing underwriting teams. The UK marine market had been hard hit prior to the COVID Pandemic with a number of underwriters, including Beazley withdrawing capacity as pricing and terms  came under increasing pressure.

Mr Dowson was previously Regional Manager at rival specialty MGA operation, NMU based in Leeds. He joined NMU in 2001 becoming a cargo underwriter before taking the Regional Manager role in 2018.

“We are delighted to welcome Scot, Claire and Ben to our expanding team here at Fiducia,” said Mr Sheehy. “Scot has built up a significant amount of expertise across the marine classes during his career along with a huge range of contacts with brokers and clients. He understands Fiducia’s client-first culture and we are excited for what he will bring to the team.

“Claire and Ben will play a vital role in supporting our underwriting teams as the level of business continues to increase as the recovery from the impact of COVID-19 continues.

“What the recruitment of Scot, Claire and Ben allows us to do is enhance the range of the products and support we can offer. Scot joins us with an impressive contact book and we are looking forward to supporting Scot in strengthening those relationships and the opportunity to highlight to those contacts the benefits that working with Fiducia can bring.”