International specialty re/insurance MGA Rokstone has announced the launch of Rokstone Commercial Risks, a new direct-to-retail excess and surplus lines (E&S) MGA in the US.
Rokstone Commercial Risks will focus on casualty-oriented E&S underwriting, addressing a market that exceeded US$95 billion in premiums in 2024, with an 11% year-on-year increase. The division is structured to serve harder-to-place risks in the E&S space.
John Larkins (pictured above) has been appointed president of Rokstone Commercial Risks and will lead the division.
The division’s capacity is supported by A-rated Lloyd’s syndicates on a multi-year non-admitted basis. It will provide direct access to E&S products for small to middle-market commercial risks, including general liability, liquor liability, excess liability, and property coverages.
The division expects to write more than US$150 million in annual premiums within five years. The initial team includes three senior E&S underwriters, led by Larkins. Pepper Sleight has been appointed senior vice president of underwriting, and Scott Powell has joined as vice president of underwriting.
Earlier this month, the MGA also expanded its directors and officers (D&O) and professional indemnity (PI) efforts with a combined facility for financial institutions in the United Kingdom, Europe, and the Caribbean.
Rokstone’s move to further bolster its foothold in the market is not without merit. Over the past year, the E&S market has experienced significant growth, with projections indicating continued expansion into 2025.
Triple-I noted that the E&S market has experienced double-digit growth over the past five years. In 2023, total premiums reached US$86.47 billion, up from US$75.51 billion in 2022. While the growth rate has moderated from the peak increase of 32.3% in 2021, the market continues to expand robustly.
Projections for 2025 suggest that the E&S market will maintain its upward trajectory. A Novida report highlights that factors such as the increasing frequency of natural disasters and the withdrawal of traditional insurers from high-risk areas are expected to drive demand for E&S coverage.
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