Price Forbes boosts Financial Products team with major new hires

06 September 2019

Price Forbes has boosted its Financial Products arm with the appointment of directors’ and officers’ specialist Suresh Ellawala as Executive Director of US financial products, financial fraud specialist Mark Warrilow as Director and Chris Butler as Business Manager.

Based out of London, the team focus will be on developing and growing Price Forbes’ financial products business around the world.

Suresh Ellawala has over 15 years of experience across D&O, warranty and indemnity, tax, financial institutions and errors & omissions. He was most recently a D&O and transactional liability Line Underwriter at Hiscox. Prior to that Suresh was product leader for D&O and public offering of securities insurance at QBE London, and part of the financial lines team at AIG London.  Before joining the insurance market, Suresh was a practising lawyer in corporate regulatory and M&A practice at Freshfields Bruckhaus Deringer and Lovells. He holds a BA in law from the University of Oxford.

Mark Warrilow has 40 years insurance experience in both broking and underwriting and joins from Markel where he was most recently chief underwriting officer Singapore. He will be focused on financial fraud for both banking and commercial risks.

Suresh Ellawala commented: “This is an exciting time to be joining Price Forbes as there is a significant opportunity for a well-resourced and experienced independent broker to grow in this space. We are in a very tough market with a real lack of carrier capacity; our clients really need brokers that have an in-depth understanding of the insurance sector, specific products, the loss environment and so can talk comprehensively about risk with both them and underwriters. Our team has these capabilities, and we are continuing to build on a great base.

Price Forbes already has a significant book in this sector, with an existing focus on financial institutions; I look forward to strengthening that presence and driving diversification across all financial products with both financial and other commercial customers.”

James Masterton, CEO Price Forbes, said: “I am delighted to welcome Suresh, Mark and Chris to the team – their vast experience and extensive contacts across this challenging sector will quickly help our clients. These appointments also underline our strategic vision of growing the business in core sectors by investing in talented market specialists to ensure we continue to provide the right cover for our clients no matter how challenging the market conditions.”

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