Beauregard takes helm at expansive Zurich Wholesale & Surplus unit
Ron Beauregard has replaced Andy Swenson as head of Zurich Wholesale & Surplus (ZWS) as the insurer continues its growth strategy in the hardening E&S market, The Insurer can reveal.
Swenson has moved to the newly created position of head of value proposition across the insurance giant’s US commercial insurance business
Former Beazley, XL and Lexington executive Beauregard takes the ZWS leadership role only a month after joining Zurich North America as head of national wholesale distribution.
He had launched XL’s surplus lines property division and Beazley’s large commercial property operation in the US.
Sources said that Beauregard will be responsible for the strategy, execution and results of the ZWS unit, which includes a dedicated team of underwriters for the wholesale channel.
Meanwhile, Swenson will build a new team focusing on industry and international value propositions across Zurich’s US commercial insurance business. He reports to Brian Winters, head of sales and distribution for Zurich US Commercial Insurance.
It is thought that the carrier has also reiterated a strong commitment to the wholesale space, which is believed to have been a strong source of top line growth in 2019 and is expected to continue on its upwards trajectory into 2020 and beyond.
The growth is being seen against the backdrop of a buoyant E&S marketplace, where brokers are all reporting strong new business growth and record submissions this year.
As previously reported, the drivers include retrenchment of admitted carriers from many lines of business traditionally seen as E&S specialty areas.
“Our timing is good, and this move enhances our ability to be a factor in the marketplace in these changing conditions”
Brian Winters, Zurich
At the same time, the impact within the surplus lines sector of the overhaul at Lloyd’s, and Lexington’s repositioning that has included cutting back limits and pushing hard on price, has driven rate hardening across swathes of business.
Commenting on the leadership appointment at ZWS, Winters told The Insurer: “Hiring someone with the background and experience of Ron Beauregard moves us to the next level.”
He added that Zurich is “bullish on this business” and expects it to grow and remain profitable.
“Our timing is good, and this move enhances our ability to be a factor in the marketplace in these changing conditions,” he continued.
The ZWS unit was launched in late 2017, bringing together the company’s wholesale and E&S operations into a consolidated platform that includes wholesale-only E&S segments.
The insurer’s ZWS unit underwrites on the A+ paper of Zurich’s Steadfast Insurance Company as well as its main balance sheet in North America.
As well as a dedicated ZWS team, the unit provides wholesale brokers access to Zurich’s full global product and service offering.
It incorporates a P&C surplus lines offering available exclusively through ZWS with a wholesale only distribution channel.
Key executives in the ZWS unit include property head Dominic Aurino and head of custom/E&S property Lawrence Modafferi, along with primary/casualty casualty head Ron Mathewson and umbrella/excess head, Lajuanda Johnson.
Mathewson took the position after Zurich exited US railroad liability last month, in a move revealed by The Insurer.
The executive time also includes financial lines head Brad Craner and head of middle market package solutions Rob Hampel.
Wholesale construction casualty is led by Jeff Grewing, with property in the construction segment headed by Kelly Kinzer.
According to a flier on Zurich’s website, the ZWS team “is committed to providing protection to our brokers of record, ensuring strong wholesale broker relationships and the joint development of profitable business”.