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The consortium, understood to have a limit of $30mn, is targeting mid-market business. -
The carrier has been rebuilding its team after Alasdair Butler and Lee Aspinall left to launch an MGA.
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The marine market is expecting a sizeable claim from the ship, which sunk last month off Sri Lanka.
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The executive joins after 16 years at Mar Risk Services.
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A total of 13 companies, including five brokers and eight insurers, will now be able to trade digitally across the (re)insurance lifecycle without geographical limits.
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There has been an influx of capacity in the cargo market after several years of improved pricing conditions.
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The rebrand follows a last-minute acquisition of the firm by Aquiline-owned Lloyd’s syndicate ERS, in December of last year.
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The business recently expanded into the cargo market with an underwriting cell headed by Nick Derrick.
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The carrier has reshaped its hull leadership team since the departure of global head of hull Mike MacColl.
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Sources raised concerns about a consistent trend in claims inflation and the long-term prospects of profitability.
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Rates are beginning to taper in cargo as new capacity enters and staff displacement continues to be high.
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Negotiations have been ongoing since the ship blocked the Suez Canal in March.
