Experienced underwriter Stuart Dale has been hired to lead Envelop Risk’s push into the casualty market.

Group chief executive officer Jonathan Spry said the “timing was right” to enter the liability risk space for Envelop, the data-driven cyber reinsurance and analytics specialist.

Mr Dale’s appointment as global head of casualty takes effect on September 24. He will lead the company’s global casualty reinsurance strategy, including product development and portfolio growth, and will report to Dominic Peters, CEO, Envelop Underwriting.

Mr Spry said: “Envelop has the core capability to build and maintain a compelling position in the liability risk space.

“We believe the timing is right to enter this market, applying our proven, data-driven underwriting approach to this complex area of risk.

“The move into this cyber-adjacent class will considerably enhance Envelop’s ability to observe and manage how AI-related risks impact insurers across their entire portfolios.”

Envelop, which is headquartered in the UK and also has an operation in Bermuda, also announced that Chris Baddeley will become global head of cyber while continuing as active underwriter for Syndicate 1925.

Both will work closely with Michael Murdoch-Smith, executive vice-president, head of cyber Bermuda, alongside the Envelop Underwriting and Labs teams, to deliver Envelop’s casualty proposition.

Mr Dale has almost 30 years of casualty and specialty treaty reinsurance experience. He joins from Volante Syndicate 1699 where he served as deputy active underwriter. During his career, Dale has held numerous senior roles, including head of casualty treaty at both ArgoGlobal and Westfield Specialty.

Mr Peters said: “Stuart will be an excellent addition to the team. His depth of market experience and portfolio-building capabilities will further enhance Envelop’s ability to deliver top-tier underwriting and capital management performance for our clients globally.”

Mr Dale said: “I am thrilled to join the team at Envelop as the company enters its next phase of expansion. Its track record in cyber has demonstrated market leadership, and Envelop’s capabilities, combining disciplined underwriting, data-driven insight and strong portfolio construction, offer something genuinely new and exciting to the casualty market.”