Inigo

The Lloyd’s (re)insurer is looking to execute a five-year plan to double GWP to $3bn.

Axa XL has also added Fidelis’ Jamie Cann to its aviation team.

The carrier is also considering a potential casualty treaty market entry.

Listen in as Inigo CEO Richard Watson and head of reinsurance Alice Kaye discuss the use of data and AI in underwriting, the possibilities of entering the casualty treaty market, and all options being on the table for future capital events.

The carrier increased its top line by 35% to $1.1bn.

The 2021 start-up broke the $1bn GWP threshold last year.

Harker was previously global chairman and CEO of Marsh Aviation.

Cyber will be the only line Inigo enters this year after pushing into several new lines last year, including FI, aviation war and onshore energy.

The start-up carrier also secured a ~20% uplift in GWP planned for 2023, taking it to $1.2bn, after resubmitting its Lloyd’s business plan.

It’s understood that Inigo pulled out of the class due to rising reinsurance costs, while The Hartford has exited following the departure of its head of PV and terrorism, Grant Witheat.

The Richard Watson-led carrier has continued to broaden its suite of products since launching at the start of 2021.

The rapid cooling of the US SPAC and de-SPAC market could also prove fertile ground for the plaintiff bar.