GrovesJohnWestrup Private Clients, which was launched in March 2021, has closed for business effective October 4.
Part of Munich Re Specialty Insurance UK, GrovesJohnWestrup Private Clients no longer accepts new or renewal business but will continue to service all existing policies, according to the closure announcement made by the high-net-worth specialist on LinkedIn.
“Current policies can still be managed through our broker portal, and any claims can be made via our claims page until October 2, 2025,” it stated.
“We’d like to thank our clients, partners, and colleagues for your support and trust over the years. Thank you for being part of our journey.”
Read more: Munich Re Specialty sells GJW Direct to Ripe
Prior to the closure, GrovesJohnWestrup Private Clients ceased writing new business after the first half of 2024 when it was put into run-off following a review of Munich Re Specialty’s businesses.
“A recent strategic review of our businesses has led to the difficult decision that GrovesJohnWestrup Private Clients will cease writing new business from July 1,” a spokesperson said at the time.
“Detailed plans are currently being drawn up to ensure that the run-off is handled in accordance with our contractual and regulatory obligations.”
Former underwriting head Stuart Bromley, Nick Gildea, and Isaac Moore are now with Bspoke Private Clients, while Vijay Mithal moved to the private clients team at Brit Ltd.
Separately, Munich Re Specialty is selling marine insurance business GJW Direct to digital managing general agent Ripe.
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