International insurance and reinsurance group DARAG has appointed Andrew Pryde to the new role of group chief risk officer, reporting to group CEO Tom Booth. DARAG specialises in providing capital relief solutions and acquiring discontinued business, having completed 54 run-off transactions in 21 countries with a value of more than €1.7 billion. Pryde previously held the position of chief risk officer at Beazley for more than 10 years, where he gained experience in implementing risk management, capital modelling and exposure management frameworks, as well as undertaking transactional own risk solvency assessments to support decision making. Before this, Pryde served as executive director and board member of Beazley Furlonge Limited, the group’s main insurance undertaking. Booth comments: “We are delighted to bring Andrew on board to further strengthen our risk management capabilities throughout DARAG Group. He has vital global experience in enterprise risk management, capital modelling and exposure management, coupled with excellent commercial awareness, as well as holding strong relationships with regulators. “Andrew adds strength in depth to our senior team as we continue to focus on operational efficiency and offering the best possible legacy solutions to our clients.” Pryde adds: “I am thrilled to be joining the executive management team at DARAG. I have been particularly impressed with the skill and expertise of everyone I have met and by the group’s collegiate and inclusive culture that Tom has cultivated.”
