IQUW Promotes Furlong and McDonach in leadership shuffle
IQUW Promotes Furlong and McDonach in leadership shuffle
Specialty insurer and reinsurer IQUW has announced two strategic promotions that reinforce its commitment to underwriting excellence, operational oversight and talent development. Phil Furlong has been promoted to the newly created role of Head of Technical Underwriting and Oversight and Mark McDonach appointed as Furlong’s replacement assuming the role of Head of Marine, Energy and Aviation.
Furlong’s new position as Head of Technical Underwriting and Oversight will see him oversee underwriting governance and technical standards across the business, while also taking on leadership of the IQUW Claims function. His deep expertise and leadership will be instrumental in ensuring consistency, quality, and efficiency across underwriting and claims operations. Furlong will report into IQUW Group CEO, Peter Bilsby.
Having joined IQUW in 2022 as Lead Underwriter under the tutelage of Furlong, McDonach will now lead the underwriting strategy across IQUW’s Marine, Energy, and Aviation classes, bringing a wealth of experience and a proven track record of delivering underwriting performance and innovation. His appointment reflects IQUW’s focus on developing internal talent and maintaining its position as a lead market in these sectors. McDonach will report to IQUW Active Underwriter, Steven Tebbutt.
Peter Bilsby, Group CEO at IQUW commented: “These promotions reflect our commitment to recognising and developing talent from within. Phil and Mark have both demonstrated excellent leadership and expertise in their respective fields. As IQUW continues to evolve, their contributions will be vital in driving our strategy forward, supporting our service-led proposition to brokers and clients.”
These leadership changes come as IQUW continues to invest in its underwriting and claims capabilities, following a year of record profits and premium growth. In 2024, IQUW reported a 22% year-on-year increase in gross written premiums, reaching US$1.1 billion, and a combined operating ratio of 83.3%, whilst achieving the Outstanding Underwriting Service Quality Marque in 2025 from Gracechurch.
