It has been reported that Peter Scales and John Lynch have been dismissed by Lancashire Group.
Scales and Lynch have served as CEO and CFO of the insurer’s Lloyd’s platform Cathedral Capital since the managing agency’s inception in 2000.
Both executives held on to their roles following the acquisition of Cathedral in 2013 and serve alongside their counterparts from Lancashire Insurance Company Limited on the Group’s integrated board.
It has been reported that more redundancies may follow as part of a broader streamlining process, however they are not thought to include those fundamental to the underwriting operations of syndicates 2010 or 3010, Cathedral’s two Lloyd’s entities.
Lancashire Group has been the subject of regular M&A speculation following the acquisition of a handful of publically-listed Lloyd’s insurers, Amlin and Catlin being the most notable recent examples.