Reinsurance broker Benfield, has strengthened its recently depleted facultative team with the appointment of former Guy Carpenter senior vice president, Michael Lazarus.
Lazurus will take over as head of the group's facultative solutions team for Australia, New Zealand and South Africa.
He will also become a member of Benfield's facultative solutions leadership team where he will assist in the strategic direction and management of the global team.
Rob DeSouza, chairman of Benfield's Asia Pacific executive, said: “Michael's expertise will be an asset to Benfield and will further strengthen our successful facultative offering to customers.”
The arrival of Lazarus, who was a senior vice president at Guy Carpenter in Sydney, leading their facultative operations in Australia, New Zealand and the Pacific region, follows the departure of 20 senior members from Benfield's facultative team in October 2006.
This included head of the company's global facultative solutions team Elliot Richardson, who defected to Aon.
Benfield warned at the time that as a result of the mass resignations, which industry sources suggested was more than 50, that profits could fall by as much as £10m.
