Hobbs to succeed Soames as chairman of Barbican’s Lloyd’s Managing Agency

27 March 2015

Hobbs to succeed Soames as chairman of Barbican’s Lloyd’s Managing Agency

Barbican Insurance Group today announced that Jeremy Soames has stood down as chairman of Barbican Managing Agency Limited (BMAL) after five years in the role.

During his tenure as chairman, BMAL’s stamp capacity grew from £180m to £260m as it became firmly established as an innovative and successful Lloyd's managing agent.

Mr. Soames has been succeeded by Richard Hobbs, who has moved from his current position as BMAL’s senior independent non-executive director to become chairman. His previous wide-ranging civil service career included roles relating to the regulation of the insurance industry and, in particular, the Lloyd's market.

Commenting on Mr. Soames’ decision to leave the Lloyd’s managing agency, David Reeves, Barbican Group CEO, said: “Jeremy has contributed immensely to the success of BMAL over the last five years. Our management team has also benefited from working with a chairman who leads a board with a strong independent style. We thank Jeremy for his leadership and look forward to working with Richard, who we already know well, to take BMAL forward through the next phase of its development.”

Mr. Soames added: “Barbican has become an inventive and agile insurance business since its formation in 2007, and I am proud to have played a part in its development since 2010.”

Mr. Hobbs said: “My tenure as chairman of BMAL begins at an exciting point in its evolution. The combined efforts of Jeremy and the Barbican management team have created a dynamic managing agency with strong foundations. Our aim now is to take full advantage of opportunities within the Lloyd's market that have a good strategic fit with the group as a whole.”

Barbican, Reeves, Soames, Hobbs, Chairman, Lloyd's

Patrick Palmer
Barbican Insurance Group
+44 (0)20 7082 1910

Nigel Allen
Allen & Clapham
+44 (0)7988 478 824

Notes to Editors

Barbican Insurance Group http://www.barbicaninsurance.com

Formed in 2007, Barbican Insurance Group underwrites business predominantly through its Syndicates at Lloyd’s. It also has a non-Lloyd’s financial solutions business based in Guernsey which offers insurance and reinsurance programmes to the global market and a number of service companies including, Barbican Underwriting Limited, Castel Underwriting Agencies Limited, Professional Indemnity Protect Limited and Seacurus Limited.

Barbican has a Lloyd’s stamp capacity of £260m for the 2015 year of account and underwrites marine, aviation and transport re/insurance, property re/insurance, media and contingency, energy and specialty lines including casualty reinsurance, cyber liability, healthcare liability, financial and professional lines and professional indemnity.

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