Posted on 27 Feb 2018
HSB appoints new non-executive directors to the Board
London, 27th February 2018: Specialist engineering and construction insurer HSB Engineering Insurance (HSB), part of Munich Re, has appointed two new non-executive directors, Jeff Herdman and Craig Scarr.
Jeff Herdman has been appointed as an independent non-executive director and Chairperson of the Board. Jeff has over 35 years’ experience at a senior management level within the financial and professional sector including Oval Group and Willis, and currently holds non-executive director appointments at the Swansea Building Society and Tasker Insurance Group. His specialist knowledge of insurance and customer strategy, gained during his extensive career, will bring valuable insights to HSB.
Craig Scarr has been appointed as an independent non-executive director and Chair of the HSB’s Finance, Audit and Risk Committee. Craig spent 28 years at Mazars as UK Head of Insurance and is currently a non-executive director at Tokyo Marine HCC and the United States Automobile Association. Craig brings to HSB strong expertise in governance, risk, internal controls and insurance.
Stephen Worrall, Managing Director at HSB commented: “Both Jeff and Craig have admirable reputations in the industry and their experience will make a significant contribution to the business. We are delighted to welcome them to HSB“.
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About Munich Re
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2010, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €2.4bn on premium income of around €46bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €24bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Our primary insurance operations are concentrated mainly in the ERGO Insurance Group. With premium income of over €20bn, ERGO is one of the largest insurance groups in Europe and Germany. It is the market leader in Europe in health and legal protection insurance. More than 40 million clients in over 30 countries place their trust in the services and security it provides. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €193bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
HSB Engineering Insurance is a leading specialist provider of engineering insurance and inspection services. HSB Engineering Insurance helps clients reduce risk through a range of innovative engineering insurance products tailored specifically for the construction, renewable energy, and manufacturing industries, as well as for the general retail, commercial and public sectors. HSB Engineering Insurance is the UK-based arm of Hartford Steam Boiler, one of the world’s leading equipment breakdown insurers. A.M. Best Company awarded the HSB Group of companies its highest financial rating, A++ (Superior). HSB was acquired by Munich Re in April 2009.
London, England, 27 February 2018
HSB Engineering Insurance Limited
New London House
6 London Street