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Malcolm Newman, Managing Director of SCOR’s London Hub, was elected the new Chairman of the International Underwriting Association (IUA) at the association’s annual general meeting on 26 June 2013 in London. Mr Newman, who has been a member of the IUA Board for four years, takes over from Stephen Riley, Executive Director at Global Aerospace, who has led the association for the past seven years.
The IUA represents international and wholesale insurance and reinsurance companies operating in or through London. It exists to promote and enhance the business environment for its members.
The election of Malcolm Newman as IUA Chairman bears witness to the strategic importance of the London Hub for SCOR, and clearly demonstrates the Group’s strategy of combining a global perspective with a deeply-rooted local presence. The appointment reinforces SCOR’s position as a key player on the London market, via the Group’s London Hub and its significant London-based platforms. These include:
- A P&C insurance subsidiary, SCOR UK, operating in Specialty segments such as Large Corporate Accounts, Medical Malpractice and Aviation & Space
- A P&C treaty reinsurance branch of SCOR Global P&C SE
- A branch of SCOR Global Life SE
- A P&C subsidiary, SUL, dedicated to providing capital to the Lloyd’s market
- A Lloyd’s Syndicate, Channel 2015
Malcolm Newman comments: “It is an honour for me to be tasked with Chairing the IUA at this time of great change in many areas; particularly domestic and international regulation and solvency requirements as well as the working practices and supporting infrastructure used daily in the London market. The IUA have been at the forefront of these developments and I and the IUA Board intend to continue our efforts to represent the interests of our members and to promote the conditions required for the efficient conduct of business in London”.
