Heath Lambert Group has agreed to the transfer of 14 key international treaty staff – and part of its non-marine treaty book worth £2.5m – to Lloyd's reinsurance broker Alwen Hough Johnson.
Among those joining AHJ are Peter Austin and Roger Mount who each have more than 20 years experience of placing all classes of business in the non-marine reinsurance market. They are joined by 12 support staff. Austin's niche market is the Caribbean and Mount's focus is Scandinavia.
David Margrett, chief executive of Heath Lambert, said the book of business being moved to AHJ represented less than 1% or £2.5m of its £250m turnover. But he is disappointed at his staff's decision to leave.
Margrett added: “We are however completely satisfied with the commercial terms agreed for the transfer of the business and will be working closely with AHJ to ensure our joint clients continue to receive the service they deserve.”
Hugh Price, chairman of AHJ, welcomed its recruitment of Austin, Mount and its staff who have more than 200 years non-marine treaty experience between them. He said their addition would help AHJ expand in this class of international business.