New D&O underwriting vehicle formed in London

A new underwriting vehicle, Tegron Specialty, has been established, focusing on D&O business. The vehicle is backed by Beat Capital Partners, a long-duration investor specialising in the insurance industry, and will be led by industry veteran Paul Shore.

Tegron will focus on D&O insurance for publicly traded companies, specialising in excess-of-loss placements.

Mr Shore will be the CEO of Tegron Specialty, which will be based in London. He brings more than 25 years of industry experience to Tegron Specialty, having previously been head of management liability at Navigators and, most recently, head of financial lines, international at Navigators/The Hartford.

Mr Shore said: “I am really pleased to announce the establishment of Tegron, the launch of which comes at a time when the D&O market is in much need of fresh capacity. I look forward to re-engaging with brokers and clients alike, and in partnership with Beat Capital, creating a market-leading proposition.”

From 1 July 2021, Tegron Specialty will underwrite via a Lloyd’s consortium, led and managed by Beat syndicate 4242, and will be an appointed representative of Asta Managing Agency.

John Cavanagh, chairman of Beat Capital, said: “We are delighted to partner with Paul Shore in the formation of Tegron. With his outstanding underwriting record in this class of business and respected industry reputation, Paul is yet another excellent example of Beat Capital’s target template of entrepreneurial underwriting and market-leading talent.”