Liberty Specialty Markets (LSM) has made two senior promotions in its financial risk solutions (FRS) division and expanded its political risk team with a new hire.

Huw Owen (pictured), formerly FRS head of underwriting and London markets, takes on the newly created role of FRS chief underwriting officer. Sam Wilde, formerly underwriting manager for FRS, becomes FRS head of London markets, the role vacated by Owen.

Both take up their new roles with immediate effect. Owen will report directly to Peter Sprent, global head of FRS. Wilde will report to Owen.

Commenting on the promotions, Sprent says: “The credit and political risk insurance market has grown significantly in both scale and complexity over the past 10 years, and we expect this trend to continue. We are investing in our teams to ensure that we can provide the highest level of service to our clients and broking partners.”

“Huw has been instrumental in developing Liberty’s growing product capabilities. He’ll be responsible for ensuring that our global underwriting teams are positioned to provide market-leading innovative financial risks solutions in each of our market segments.

“Sam has expanded FRS’s non-payment offering and developed a number of our strategic initiatives, most notably project finance, asset-backed finance and capital markets. Our clients and brokers will benefit from his technical expertise and commercial acumen.”

Both Owen and Wilde have significant experience of the financial services sector. Owen joined Liberty in 2012 as global financial risks head of London markets after 10 years in insurance. Wilde joined Liberty in 2017 as a senior underwriter after 13 years in banking.

In addition, Mia Jureidini joins the FRS division as political risk underwriter with immediate effect. She will be based in London, reporting to William Limb, LSM’s political risk practice leader. Jureidini joins from WTW, where she was a senior broker.