Lexington adds depth with ex-Swiss Re CorSo E&S property head Pippin

Lexington Insurance Company has strengthened its property team with the hire of Darrell Pippin, Swiss Re Corporate Solutions’ former head of E&S property North America, The Insurer can reveal.

According to sources, the Atlanta, Georgia-based Pippin has been appointed senior vice president for property at Lexington.

Those sources said that in his new role, Pippin will report into Clifton Hope, the company’s head of property who oversees E&S property, large limits, inland marine, construction, special risk property and personal lines.

Pippin has joined AIG-owned US-based surplus lines insurer Lexington after more than 12 years at Swiss Re Corporate Solutions, where in addition to his responsibilities as head of E&S property for North America he held the title of senior vice president.

Before he joined Swiss Re Corporate Solutions in 2009, Pippin had spent nine years at Ace Westchester.

Lexington’s hire of Pippin comes as the market undergoes what some sources have referred to as a “re-hardening” of the E&S property segment as catastrophe loss frequency and severity is exacerbated by significant claims inflation.

A report from Amwins highlighted earlier this month that the market is becoming increasingly bifurcated with moderate rate increases seen for business placed within the standard market, and much greater price rises imposed for business in the non-admitted space.

As The Insurer previously revealed, Swiss Re Corporate Solutions has moved quickly to fill its vacant head of E&S property position, with the carrier having brought in Kyle Burnett from Axa XL.

Burnett most recently served Scott Gunter-led Axa XL as head of E&S property North America. He joined the then XL Catlin in October 2016 as regional vice president for E&S property from Everest.

Lexington declined to comment on the hire.