’His experience in this sector will clearly prove invaluable,’ says incoming chief executive
Dan Trueman has officially joined CFC as its chief underwriting officer, a statement released today (9 January 2024) revealed.
Trueman’s appointment was announced by CFC late last year as part of a management reshuffle following a Lloyd’s investigation into allegations of non-financial misconduct at the company.
The statement, which was released on 29 November 2023, said that Trueman would start the role on 1 January this year.
He succeeds Andy Holmes, who will be taking up the role of chief executive of CFC Underwriting.
Holmes said that Trueman’s “expertise in innovation will add huge value to our business going forward”.
“Innovation is in our DNA and runs through every class of business and every product we write. I have no doubt that he will play a pivotal role in helping CFC identify new niche areas where we can add value and work with our underwriters to ensure we write profitable and sustainable business,” he added.
“Dan has also been a key figure in cyber for many years and his experience in this sector will clearly prove invaluable given our position as one of the world’s leading cyber markets.”
Experience
Trueman joins CFC from Axis Insurance, where he was most recently global head of cyber.
Read: Lloyd’s issues statement after investigation into allegations of non-financial misconduct at CFC
Read: Walsh and Newman to leave CFC after Lloyd’s non-financial misconduct investigation
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The appointee started his career as an active underwriter at Tokio Marine Kiln and went on to hold a variety of senior positions – including unit head of cyber and chief innovation officer at Novae Group, which was acquired by Axis Capital in October 2017.
Trueman said that he was “thrilled to be joining CFC and to work with such an exciting leadership team”.
“It is recognised as a leading speciality underwriting business that’s consistently responding to the changing risk climate through its innovative products and approach,” he added.
“As well-respected pioneers in emerging risk, I’m also looking forward to collaborating with CFC’s experienced and talented teams as we continue its impressive growth journey.”
Other changes
Other management changes CFC has made following the completion of the Lloyd’s investigation include group chief executive David Walsh being succeeded by Louise O’Shea.
Meanwhile, Graeme Newman will step down as the top boss of CFC Underwriting in April 2024, with him being replaced by Holmes.
As part of the changes, CFC will also be appointing a new chief people officer.
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