Medmal (Medical malpractice)
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Part of the syndicate’s premium for clinical-trial-funding cover will move to Syndicate 1902. -
The medical liability carrier said the deal marks a strategic shift.
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The international casualty director has worked at Axa XL, Ive and Ardonagh.
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The group has hired Hines Associates to advise on the process.
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The reinsurance to close transaction is effective from 1 January 2025.
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The unit will write business from Australia, Canada, the UK and Europe.
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CEO Stef Raftopoulos said the company platform will let the operation reach a suitable scale.
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The carrier will only continue to offer lead capacity to some existing accounts.
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The vehicle is turnkeyed by Mission Underwriters.
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The portfolio will focus on international risks with a focus on the US market.
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The underwriter had worked for Axis and predecessor Novae for 17 years.
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The new team now counts 15 underwriters working with 1,600 brokers across 80 countries to reach more than 6,000 clients.
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