Specialist Lloyd’s underwriter Marketform announced it no longer will write general liability business.
This decision forms part of a broader strategic review of the business, which included an assessment of Marketform’s general liability account. “Alongside its shareholder, American Financial Group, Marketform concluded that it is not a line that fits with the group’s longer term strategic vision,” the company said in a statement.
Marketform said it will continue to operate a full claims service and will retain two dedicated underwriting professionals, with both a Lloyd’s box and office presence, in order to service commitments to existing clients.
“This will be administered under the leadership of Ian West, Marketform’s most experienced casualty underwriter,” the company said.
Marketform explained that other casualty lines “will remain a part of our business going forward.”
“We did not take the decision to exit general liability lightly, however, as part of the ongoing strategic review of the business, we concluded that this line no longer fits our longer term plan for Marketform,” commented Martin Reith, chief executive officer, Marketform Managing Agency Ltd.
“We will maintain our commitment and service excellence to clients with existing policies while more broadly we are excited about the opportunities for growth we see across other lines,” he added.