ADVENT INSURANCE MANAGEMENT APPOINTS PAUL ARGENT

Advent Insurance Management (Advent), the specialist provider of Third Party Administration (TPA) services for delegated authority underwriting businesses, today announces the appointment of Paul Argent who joins Advent as a Director.

Paul was the founder of specialist insurance consultancy Argent Business Solutions, a well-established business with a proven track record of supporting insurers to achieve strategic goals through its consulting services. Paul has extensive experience in the delegated market and has conducted numerous operational reviews of insurers, coverholders and TPAs. He has also supported Lloyd’s managing agents with regulatory approval processes, claims handling, reserve reviews and loss fund reconciliation.

This strengthens Advent’s consulting and claims capabilities and enhances its suite of products and services. This will provide greater support to the spectrum of delegated authority businesses, to meet increased regulatory requirements amid challenging market conditions.

The appointment follows the recent investment by Abbey Capital Limited in sister company Advent Solutions Management Limited, before launching Advent Insurance Management and appointing Paul Bermingham to lead it in June.

Paul Bermingham, Executive Director, Advent Insurance Management said: “The appointment of Paul Argent marks another significant milestone for our business. Central to our strategy is to build a best in class platform to support a range of businesses in the delegated underwriting authority market, which currently faces significant challenges. Paul has built a highly regarded business, renowned for its technical expertise and I am extremely pleased to welcome him to the Advent management team.”

Paul Argent said: “I am delighted to join Advent and to add further capabilities to its broad range of partner services to the insurance industry. With regulatory challenges currently facing the delegated market we see this as an ideal opportunity to offer global services supported by proprietary systems designed to meet all of the requirements around Conduct and the impending implementation of Solvency II Pillar 3 reporting.”