Inigo

The post-disaster reinsurance start-up model is changing.

Motion Specialty will initially focus on high value home and flood insurance in the US.

The syndicate’s claims ratio worsened due to an “exceptionally active” hurricane season.

Followers will automatically support primary or excess Inigo quotes.

The business will test the market from a position of strength after impressive early profits and robust growth.

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.