Inigo
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The carrier increased its top line by 35% to $1.1bn.
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Harker was previously global chairman and CEO of Marsh Aviation.
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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.
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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.
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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.
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The Richard Watson-led carrier has continued to broaden its suite of products since launching at the start of 2021.
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The rapid cooling of the US SPAC and de-SPAC market could also prove fertile ground for the plaintiff bar.
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The new lead underwriter has almost 30 years’ experience including stints at Chubb, Faraday and Howden.
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Atrium aviation war underwriter David Langran has resigned to join expansive start-up business Inigo, Insurance Insider can reveal.
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Inigo 1301 achieved the greatest scale of the new syndicates, writing $428mn of business.
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The start-up said its survey shows that SPAC and de-SPAC claims would drive increasing litigation throughout 2022.
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The Richard Watson-led carrier will enter a class that has undergone a period of substantial rate rises.
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David Howden lamented the lack of start-up brokers in the market at Insurance Insider’s London Market Conference.
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The business began underwriting at the beginning of 2021 following an $830mn capital raise.
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The latest Plane Talking report also highlights that The Hartford and Inigo are finalising preparations to enter the airline market.
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The start-up CEO said the carrier was now “categorically” ready to pursue Names backing as it looks for “significant growth” next year.
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The executive, the latest in a string of key hires at Richard Watson’s start-up, will join as head of capital.
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The recruit spent almost a decade at Willis Towers Watson.
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