The Connect Group has announced the launch of Stability Re, a specialty reinsurer.
According to the insurance group, Stability Re will provide binder capacity to Stability Risk and underwrite specialty and casualty lines, including directors and officers (D&O) liability, public and product liability, professional indemnity (PI), contingency, and cyber.
Jamil Elbahou (pictured above), Connect Group CEO and CUO, stated that the launch of Stability Re will provide additional capacity to Stability Risk and potentially other partner MGAs, complementing existing capacities within the Lloyd’s and London Market.
“I am thrilled to announce the launch of Stability Re. Alongside existing capacities within the Lloyd’s and London Market, Stability Re will make additional capacity available to Stability Risk and also potentially other partner MGAs,” Elbahou said.
This development follows the launch of Stability Risk in September 2023, a London-based MGA designed to allow Connect Underwriting Limited to concentrate on its core business areas of excess of loss, property, energy, and war & terrorism.
“There is huge potential across the markets Stability Risk will write and we will service that need by combining traditional high-quality underwriting with advanced technology to deliver the future of digital distribution in our chosen classes. Distribution will be through our existing international partners and the London broking community and we are genuinely excited to bring new business into the London market,” Elbahou said.
Regulated by the UK Financial Conduct Authority, Stability Risk is backed by Lloyd’s and London-market capacity and will initially underwrite contingency, casualty, cyber, and financial lines on a global scale.
The launch of a separate entity for these classes allows Connect Underwriting to concentrate on its core specialty areas of property, energy, and political violence.
This move also follows Connect Group’s December launch of Pixel Re, a dedicated monoline reinsurance vehicle for global property and downstream energy risks with attachments typically of $500 million and above.
What are your thoughts on this story? Please feel free to share your comments below.
