By Michael Jones

Feb 19 - (The Insurer) - Lloyd’s insurer Apollo has appointed Ciara Sheikh as interim executive underwriter for cargo.

Sheikh will replace former cargo executive underwriter Christopher Terry. One senior marine market source said Terry had exited Apollo late last year to lead MCI’s cargo book.

Apollo declined to comment on whether this was the reason for Terry’s exit.

One senior source close to Apollo said that it is recruiting for a head of cargo and that Sheikh will act in her interim role until an appointment is made.

Apollo said Sheikh will be supported by Ralph Adams-Hale from the insurer’s smart follow unit. Sheikh joined Apollo in August 2022 after a five-year stint within MS Amlin’s marine team.

The leadership rejig has continued a busy period of personnel movement in the cargo market.

Last week, this publication was first to report that Hamilton Insurance Group had hired former SiriusPoint marine head Stephen Smyth as head of cargo. This followed Westfield Specialty’s hire of Allied World’s Ben Beaumont as a cargo underwriter in late January.

The recent personnel movement follows of an influx of capacity into the space, which Gallagher Specialty said in November had led to a surprising degree of market softening.