Steve Hearn to replace Bronek Masojada as PPL chair after Ardonagh exit

Steve Hearn (pictured), the outgoing CEO of Ardonagh’s reinsurance brokerage  Inver Re, is set to replace Bronek Masojada as the new chair of London Market’s Placing Platform Limited (PPL).

Market veteran Masojada will step down at the end of July. He has served as chair of PPL since March 2018.

Hearn is a long-time industry leader in the London insurance market, having served most recently as CEO of Inver Re. He has previously also been CEO of Corant Global, Ed Broking, and deputy CEO and president of Willis Group. He has chaired both the London Market Group and LIIBA, two key stakeholding organisations for PPL.

Hearn announced last week that he is stepping down as CEO of Inver Re later this month.

Masojada, outgoing chair of the board of Placing Platform Limited said: “It has been a privilege to Chair PPL, working with the market to drive adoption with volumes increasing from 12,000 contracts per annum to over 200,000, supporting the market through the pandemic and to the successful launch of the Next Gen platform. I am delighted that such a hugely experienced and well-regarded industry figure as Steve Hearn is willing to step into the role of Chair, and he does so at a critical time for the industry, as we move towards becoming a fully digital marketplace.”

Hearn commented: “Placing Platform Limited is a unique organisation, the largest digital provider for the London insurance market, non-profit making and owned by the people who use it. PPL exists to help deliver the right digital placement for London, and I am excited to work with CEO Joe Gordon and our market partners, Lloyd’s, the Associations, the Data Council and the Joint Venture; on creating the insurance market of the future – a market that will be better, faster and cheaper.”

“Together, we’re creating one solution for the whole London market, unified around global data standards that will bring efficiency and reduce central processing costs.”

Joe Gordon, CEO of Placing Platform Limited said: “I look forward very much to working with Steve in his new role as Chair. I would also like to pay tribute to the extraordinary leadership that Bronek has shown over the five years of his stewardship of PPL, ensuring that we have remained at the centre of market modernisation. On a personal level, I will hugely miss his wisdom and kindness. He will be sorely missed by everyone at PPL.”

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