The insurance industry has witnessed significant new appointments across various companies. Specialty insurer and reinsurer IQUW has made two senior promotions as part of its focus on underwriting governance and operational oversight.
IQUW Promotes Key Executives
Phil Furlong has been promoted to the newly created position of head of technical underwriting and oversight. In this role, he will be responsible for underwriting governance and technical standards across the organization, in addition to leading IQUW’s claims function. Furlong will report directly to Group CEO Peter Bilsby.
Mark McDonach has been appointed head of marine, energy, and aviation, replacing Furlong. McDonach joined IQUW in 2022 as lead underwriter and will now be responsible for underwriting strategy across those lines. He will report to active underwriter Steven Tebbutt.
These appointments support IQUW’s broader strategy to strengthen underwriting performance and claims capabilities. The business reported a 22% year-on-year increase in gross written premiums in 2024, reaching US$1.1 billion. It also recorded a combined operating ratio of 83.3% and was awarded the Outstanding Underwriting Service Quality Marque by Gracechurch in 2025.
Volante Global Names Non-Executive Director
In a separate development, Volante Global has appointed Peter Montanaro as a non-executive director, effective July 1, 2025. Subject to regulatory approval, Montanaro will also chair Volante International Limited (VIL), the group’s UK-based FCA-regulated MGA and Lloyd’s approved service company. He will join the Volante Global group board and work alongside chair and interim CEO Martin Reith.
Montanaro brings extensive experience from Lloyd’s of London, where he most recently served as market oversight director. His responsibilities included performance and prudential oversight across the market, and he chaired the Capital Planning Group, which reviews and approves syndicate business plans and capital requirements.
Volante stated that Montanaro’s appointment will support the group’s strategy for disciplined growth across its syndicate and MGA operations. Montanaro expressed his enthusiasm for contributing to the development of the business, highlighting the firm’s plans for continued expansion and focus on sustainable growth.
