Market News > Senior Appointment -ARC board appoints new Deputy Chairman
The board of ARC, the UK trade body for legacy management professionals is delighted to announce that Paul Corver has been appointed Deputy Chairman of the association. Paul, who is Claims Director of the KMS group, succeeds fellow board member, Bill Bower, who agreed to become interim Deputy Chairman in July last year. Bill’s primary ARC role as head of the ARC Academy is unaffected by the changes.
ARC Chairman, Philip Grant, commented: “Continuity is a critical part of maintaining the momentum of any market body. The board is very pleased that Paul has both agreed to become Deputy Chairman and, subject to being elected to the board in November by our membership, has also indicated his willingness to take over the chairmanship when I stand down at the association’s AGM.”
For further information
ARC
Philip Grant
07831 659555
Haggie Financial
Fiona Gibson
Zoë Pocock 020 7417 8989
Notes to Editors
Paul Corver
Paul, who is Claims Director of the KMS group, was co-opted to ARC’s Board of Directors in November 2007. Prior to co-founding KMS in 2006, he was Head of Claims at KWELM Management Services, having been one of the core team which helped the provisional liquidators for the KWELM companies develop and implement the scheme of arrangement. He worked closely with the administrators and realised significant reserve reductions by pursuing commutations and buyouts, culminating in the finality of all KWELM claims under the bar date process. He started his career in 1985 when he joined HS Weavers (Underwriting) Agencies (whose participants included the KWELM companies). He worked closely with the North American Casualty and Treaty underwriters. When Weavers went into run-off in 1990, he was involved in various attempted rescue packages and corporate projects before moving into claims.
Paul has travelled extensively throughout the US negotiating multi million dollar settlements with policyholders and cedants. He has also spoken at a number of seminars and conferences in both the US and UK.
Bill Bower
Bill Bower has been on the ARC board since September 2004 and heads up the ARC Academy. With over 35 years experience in the international insurance and reinsurance markets, he has held Board and senior management roles in UK retail insurance, reinsurance and run-off businesses. Over the past 5 years he has lead the strategy and execution of a number of finality options including corporate disposals, business transfers and most recently a major solvent scheme of arrangement. Bill is a Fellow of the Chartered Insurance Institute and a former Head of General Insurance Runoff at Pearl Assurance. He also holds non executive directorships at other London market companies in runoff.
About ARC
As the UK trade body for insurance and reinsurance legacy management professionals, ARC is recognised as the voice of the sector by a wide range of bodies including the FSA and the UK government’s Department of Work and Pensions as well as market organisations. Its 200 members service providers, insurers and reinsurers with discontinued business - both solvent and insolvent - and associated professionals such as accountants and lawyers. The association is currently celebrating its 10th anniversary.
ARC’s objectives are to:
• Promote excellence within - and understanding of - legacy management
• Build sector expertise and skills through education initiatives
• Raise awareness of legacy issues affecting discontinued and live business
• Represent members to UK government, regulatory and market bodies
• Liaise with overseas government, regulatory and market bodies
Further information on ARC is available at: www.arcrunoff.com
