Specialist binding authority Alesco Delegated Authority (Alesco DA) has appointed Paul Compton and Simon Stovell as operations director and executive director of Americas, respectively.
Compton joins the team on April 04 and will report to Alesco DA managing director Donald Alcorn. He has more than 35 years of insurance industry experience, and makes the switch from specialist wholesale broker Xact Risk Solutions. He began his career in the insurance division of chartered accountants Pannell Kerr Forster (now PKF Littlejohn), then later spent 15 years at Lloyd’s broker Stafford Knight, reaching the position of divisional director. Compton also held senior financial and operations roles at Primary Group, Apex Insurance Services and Crispin Speers before moving to Xact.
Stovell will report to Alesco DA executive director Elliot Warden. He also has over 35 years of experience in the London market, with a primary focus on the US and Canadian non-marine delegated authority arena and an expertise in the property market. Prior to joining Alesco DA, he was divisional director at Ed Broking. Before that, he was senior binder underwriter at Faraday Underwriting and senior broker at several Lloyd’s brokers, such as JLT, Lonmar and Miller Insurance.
“I’m delighted to welcome two more great hires into the ever-expanding team here at Alesco DA as we look to build out the business in new and existing areas,” said Donald Alcorn. “North America is a key focus for growth and Simon’s extensive experience and outstanding track record will be invaluable to ensuring our continued expansion. Sustainable growth also demands operational excellence and efficiency, which Paul will be wholly focused on.
Alcorn added that Alesco DA’s business has always differentiated itself not by just connecting parties and placing capacity contracts, but by also managing, analyzing and optimizing them.
“To do that, while executing on the next phase of our strategic growth and development of our delegated authority offering, requires investment in both the talent we have and additional external expertise. It’s great to have Simon on board and we very much look forward to welcoming Paul,” said Alcorn.
“Alesco DA’s excellent reputation within the market and the opportunity to become part of what they’re looking to build was extremely appealing. With the wider group’s global reach and analytical capabilities, we are well positioned to assist our partners in delivering the very best insurance solutions to their clients in an ever-evolving market landscape,” said Stovell. “I am incredibly excited to be part of the next chapter.”