AFL recruits head of binding authorities from Munich Re

Independent Lloyd’s broker AFL Insurance Brokers has appointed Sarah Stephen as head of binding authorities.

Stephen brings 25 years’ experience in the insurance industry, most recently as senior client manager for Hartford Steam Boiler, part of the Munich Re Group, where she managed US coverholder business placed within the Lloyd’s market.

Prior to that, Stephen spent the previous ten years as underwriting manager with two Lloyd’s syndicates underwriting global speciality casualty binders and facilities, and also has 12 years’ experience underwriting property and casualty business within the UK and international markets.

AFL CEO Jonathan Bines said: “We are delighted to have attracted a senior insurance professional of Sarah’s calibre and experience to our growing team. We are seeing increased demand for high quality, independent services in our international coverholder and binder business, and Sarah’s specialist knowledge and expertise will bring huge benefits to our clients as we help them navigate in this fast-evolving market.

"In addition to her role as Head of Binding Authorities, Sarah also has broader responsibilities across the business as a senior member of our team. We look forward to benefiting from her insight and experience as we continue to grow our boutique operation internationally.”

Stephen commented: “Coverholder and binding authority business channels are the backbone of the London Market, and allow domestic brokers around the world to write specialty risks and place them in Lloyd’s. I’ve enjoyed my career in the market supporting this significant and growing service and I am very pleased to be continuing this with the AFL team.

"In AFL I’ve found an exciting, modern and fast-developing specialist broker that supports an entrepreneurial, independent and highly client focussed approach that the market is looking for. Coverholder and binder business will play a greater role in the global expansion of the specialist insurance sector in 2020 and beyond, and I look forward to continuing to be part of this vibrant market.”