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The carrier will now offer a single risk line of $150mn, following a period of significant growth in its portfolio. -
The broker said there was increased demand for coverage from international clients.
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The unit will be headed by Jo Holliday and house lines of business including contingency and political violence.
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In North Africa, protests and riots rose by 39%, while in Lebanon, 2,695 incidences of unrest occurred.
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Matt Griffiths’ resignation follows the departure of the Harry Simpson-led Tysers terror and political violence team, which has joined BMS.
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Richard Floyd is to join in 2022, when he will become head of crisis management for Asia.
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The appointment of Nicholas Stevens follows Occam’s acquisition of terrorism-focused MGA Beech Underwriting, an approved Lloyd’s coverholder.
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The respected underwriter, who has worked at the business for more than two decades, will be replaced by Harriet Sharp.
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The class of business was the first to launch at the Mitch Blaser and Mark Wheeler-led start-up.
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Political risks and contract frustration coverage will now be available alongside the original political violence offering.
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After the acquisition, the Beech team will continue to be led by Geoff Stilwell, Andrew Woodhams and Matt Gates.
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The 19bn-20bn rand claims quantum marks a steep increase from a mid-July estimate of 7bn-10bn rand.
