Howden, a leading Lloyd’s broker offering a range of specialist insurances and part of global insurance group Hyperion, today announced that Lorraine Adlam has joined the business. She will join the Board and contribute to the continuing development of the company, whilst also taking on the responsibility of Financial Lines Practice Leader for Howden’s global operations.
Lorraine joins the business from Aon, where she was Head of the UK Retail Team Services Group. In addition to developing new business and directing relationships with major banking clients, Lorraine was responsible for the design and drafting of new crime and professional liability insurance products for financial institutions. Prior to this, Lorraine spent a year as Head of Run-Off at the Corporation of Lloyd’s and held various consulting roles within the Lloyd’s insurance market. She spent over a decade at SVB Holdings PLC from 1987 to 2000. Having been appointed to the managing agency board in 1993, she was appointed Chief Executive Officer of SVB Syndicates Limited in 1997.
A large part of Lorraine’s initial focus will be on the development of Howden’s direct business unit targeting the financial community. Founded in 2002, this unit specialises in creating liability insurance solutions in the investment industry. The unit has grown rapidly over the past five years and now manages the professional indemnity and D&O needs of 25% of private equity houses registered with the British Venture Capital Association, 65% of investment trusts and 15% of hedge funds.
Lorraine will also play a leading role in the retention and development of Howden’s international banking and financial clients.
Tim Coles, Howden’s Chief Executive in the UK, comments: “Lorraine brings huge expertise and industry knowledge to our business that will be invaluable both at business unit and Board level. We have aggressive growth plans for our financial lines business, and I am confident that Lorraine’s in-depth understanding of this sector together with her experience of this market will make a significant difference as we focus on the growth of our business. She is an outstanding addition to our team.”
Lorraine adds: “I’ve watched Howden go from strength to strength over recent years, and have been impressed by the dynamism and energy of the group. I’m delighted to join the team and relish the challenges that lie ahead.”