Litigation funding business Burford has appointed Ross Clark as its chief investment officer (UK), replacing Peter Smith.
Formerly head of underwriting and pricing at Firstassist, Burford’s legal expenses insurance arm, in his new role Mr Clark will oversee Burford’s UK insurance and litigation finance investment portfolio.
Mr Clark is a well-known figure in the after-the-event (ATE) insurance market. He joined Firstassist in 1992 and has played a key role in the company’s development since, and has been Firstassist managing director Peter Smith's long-standing number two. Mr Smith is leaving the company after 22 years.
Mr Clark graduated in Law in 1990 and joined Guardian Royal Exchange as part of its graduate scheme, majoring in liability underwriting. Since joining Firstassist, he has had experience of a number of areas, including product development, relationship management, systems design, statistical analysis, contract negotiation and underwriting.
He has also worked extensively with the Association of British Insurers, the Civil Justice Council and in the wider legal expenses market to address issues of common concern. He obtained his MBA in 2005 and is a chartered insurer.
Mr Clark will report to Jonathan Molot, Burford’s chief investment officer. Mr Molot said: “Ross’s extensive knowledge and track record in the market will be invaluable in helping Burford create a unique litigation funding and legal expenses insurance platform in the UK market.
“I would like to thank Peter Smith, one of ATE’s genuine pioneers, for his significant contribution to the firm and wish him every success in the future.”
Last month Burford announced a trio of new appointments, including Mike Payne as head of operational underwriting, and Mark Thomson – formerly a partner at Nottingham law firm Freeth Cartwright – as litigation funding manager.