Brit

After Apollo announced a collaboration marking the latest milestone for algorithmic underwriting-led follow capacity in the London market, Insurance Insider explores how such partnerships can proliferate.

The transaction, which was announced in early January, included Ambridge’s operations in the US, UK and Germany.

The executive has a background in consulting and briefly worked as CFO of Talbot.

The cross-line facility launch – in a generally firm market – suggests that the tech-driven era of facilitisation is continuing to gain pace.

The Ki syndicate saw a year of significant growth, as its GWP rose by 110.8% to $834.1mn, with Brit also continuing to expand top line.

Increased appetite to grow in the cyber market is moderating rate momentum after a period of major hardening.

The appointment comes after senior cargo underwriter Caroline Monnickendam left Brit for Munich Re Syndicate.

Paolo Cuomo joined last year from Brit, where he worked as director of operations, having joined the company in 2019 as head of strategy.

Ambridge was founded 22 years ago by Jess Pryor, executive chairman, and Jeff Cowhey, CEO, who will continue to lead the company after the deal has completed.

The follow-only syndicate is one of the fastest growing entities in the market’s history.

Odyssey also booked an underwriting loss and a combined ratio of 107.8%.

Subject to regulatory approval, Martin Thompson will succeed Matthew Wilson as group CEO and executive chairman of Ki, effective today.