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Core Specialty adds D&O and marine underwriting execs

Core Specialty, the successor carrier to StarStone US, has appointed three senior underwriting executives as it forges ahead with the build-out of its primary market operation.

Stephen Moore has joined the business as president of D&O, management and professional liability business.

The insurance company has also bolstered its marine and energy division with the appointment of Zach McAbee and Peter Sandler, who have joined its Northwest ocean business in Seattle.

Moore has over 20 years’ experience in the D&O market, and moves to Core Specialty from Hallmark Financial Services. Previously, he held senior positions at RLI Corp and Axis’ primary insurance operation.

McAbee and Sandler are veterans of the marine insurance market, and most recently both worked at Pioneer Underwriters. They join a revamped marine and energy unit, which is led by former StarStone underwriting executive Tim McAndrew.

Commenting on the appointments, Core Specialty CEO Jeff Consolino said: “Our D&O business achieved rate increases of approximately 50% through the first nine months of 2020, and we are pleased to have Stephen's leadership in this market.

"When Core Specialty completed the recapitalization of StarStone US Holdings, Inc. on November 30, 2020, we established the marine and energy division after extracting it from the StarStone London managed business.”

“StarStone's US marine and energy team has a record of consistent underwriting profitability since Tim and his colleagues joined the company in 2015. The marine and energy division achieved a 9% rate increase through the first nine months of 2020, and we are pleased to be expanding our reach in this division,” he added.

Core Specialty launched in November under the leadership of Jeff Consolino and Ed Noonan, after a consortium of PE investors injected $610mn into the former StarStone business.

It has since outlined aggressive plans for growth across multiple lines of primary market business, which include the expansion of its excess and surplus property book, led by former Nephila underwriting executive Alison Oliphant.

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