Richard joined the Corporation of Lloyd’s in 1971 on a management trainee scheme. During the following six years he was employed in the Registrars, Underwriting Agents and Brokers and Membership Departments. In 1977 he joined K.F. Alder Underwriting Agency Ltd, becoming a director of a number of Lloyd’s Managing and Members’ Agencies in 1986, before being appointed Managing Director of Oxford Members’ Agency in 1990. In 1994 he was a founder equity director of Falcon Agencies which was subsequently acquired by Hampden in 1998.