U.K.’s Marketform Group Launches Five New Classes of Business

The London-based Marketform Group Limited, a leading market for non-US medical malpractice and other specialty lines, has announced that it is now underwriting five new classes of business.

Chairman Holly Bellingham described the new lines as a natural progression following the Great American transition last year. “We have been planning this since the deal was approved, and I am excited that the new underwriters have brought such considerable knowledge and experience with them, giving the company a wider offering to brokers whilst further diversifying our risk portfolio,” she stated. “These are classes where Great American Insurance have a strong presence in the US and have considerable experience in the international markets.”

The new lines of business and their respective underwriters are as follows:
— Marine Liability: Stephen Barr
— Marine Hull: Angus Wilson
— Marine Cargo: Nick Holding
— Property: Michael James
— Bloodstock & Livestock: Mark Edwards
— Specie: Phil Pavis
— Political Risk & Trade Credit: Nicholas Robinson

The bulletin also stated that as of May 18, “the Marketform box at Lloyd’s will be opened on the first gallery which will accommodate all class underwriters in one location for the first time in the company’s history.”

In January 2008, American Financial Group Inc. became the majority shareholder in Marketform Group Limited securing the company as a key international specialist insurer. Great American valued the business at approximately £55 million [$84 million), said the bulletin. It acquired an approximate 67 percent share in Marketform, with one third of the equity remaining with management and staff.

The group operates in the Lloyd’s market with subsidiary companies in Australia, Italy and Spain. It is a market leader for non-US medical professional liability insurance and other specialty casualty lines such as professional indemnity, general liability, product recall, directors’ and officers’ liability, marine, specie, property, bloodstock, political risk and specialist personal accident business, working with brokers and businesses in more than 35 countries.

The Marketform Group includes the Lloyd’s managing agent that manages Lloyd’s Syndicate 2468 (Marketform Managing Agency Limited), two Lloyd’s corporate members that provide capital to Syndicate 2468, and a Lloyd’s service company that writes insurance on behalf of a consortium of syndicates that includes Syndicate 2468 (Marketform Limited).

Source: Marketform – www.marketform.com

Topics USA Excess Surplus New Markets Lloyd's