It’s sad but true – the political violence and terrorism markets are growing rapidly in the UK. It’s no surprise therefore that one underwriter is targeting rapid growth in the segment.
Newbridge Risk Partners, an underwriting cell on the
Castel MGA formation platform, has set its sights on growth in this area after securing a new binder with Lloyd’s and London market capacity.
The firm picks up new capacity from Chaucer Syndicates and Markel International Company and allows it to offer physical damage, business interruption and liability coverages up to $20 million for operational and construction risks on a wide range of terrorism and political violence products.
“Being able to attract capacity from such respected and prominent markets reflects our success in delivering solid results through a broad range of distribution channels,” commented Chris Kirby, principal partner of Newbridge.
“Newbridge’s focus on underwriting industrial and commercial risks in emerging markets addresses the needs of a client base that requires more than a one size fits all product and appreciates a partner they can approach either directly or through a local intermediary.
“Our new capacity partners value the team’s underwriting and territorial expertise and our ability to react quickly in these environments to provide strong growth with profitable results.”
Related stories:
Sompo Canopius beefs up credit & political risk team
Lloyd’s insurers join forces for Asian political risk consortium
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