What's Happening?
Howden US, based in Columbia, South Carolina, has appointed Mark Peterson as the head of its construction, infrastructure, and surety practice. Peterson will work closely with Naresh Dade, the global head of construction, to develop a comprehensive industry practice for clients in the construction and infrastructure sectors. Peterson brings over 30 years of experience in the legal and insurance industries, having previously led the professional liability team at Aon. Meanwhile, ICW Group Insurance Companies, headquartered in San Diego, California, has named Jake Sokol as the head of excess casualty for its new specialty products business unit, ICW Specialty. Sokol, who has over 20 years of experience in excess casualty underwriting, will lead the division from Atlanta, Georgia.
Why It's Important?
These appointments reflect strategic moves by Howden US and ICW Group to strengthen their positions in the insurance market. By appointing experienced leaders like Peterson and Sokol, these companies aim to enhance their service offerings and expand their market reach. For Howden US, the focus on construction and infrastructure aligns with growing demand in these sectors, potentially leading to increased business opportunities. ICW Group's creation of a specialty products unit indicates a strategic diversification to capture niche markets, which could lead to increased profitability and market share.
