Specialist Lloyd’s underwriter Marketform announced it has transferred its international medical malpractice insurance business to Dale Underwriting Partners, the Lloyd’s licensed underwriter.
Marketform said the decision follows a comprehensive review of the business line, and Marketform immediately will cease to write international medical malpractice insurance business.
Marketform will continue to manage existing international medical malpractice claims, as well as any new claims arising from policies currently underwritten by Marketform, the company said in a statement.
The decision was taken in conjunction with Marketform’s shareholder, American Financial Group, and is part of a broader strategic review of the group launched under new Chief Executive Officer Martin Reith.
As part of the transaction, a team of four underwriting professionals, led by Andrew Hornsblow, will join Dale Underwriting Partners on Thursday March 17 2016. Other members of the team are Thomas Wagstaff, Benjamin Wilson and Amy Everingham.
Hornsblow has more than 30 years’ industry experience and is a highly regarded medical malpractice underwriter, according to Dale Underwriting in a statement issued about the four new members of its casualty team in London. Prior to Marketform, Hornsblow held senior underwriting roles with Barbican Syndicate 1955 and Chaucer Syndicate 1084.
Martin Reith, CEO, Marketform Managing Agency Ltd., commented: “I would like to thank Andrew and his team for their commitment and contribution to Marketform over the years and for their patience in recent months. We wish them all the best for a successful future with Dale Underwriting.”
Welcoming the new team, Duncan Dale, chief executive, Dale Underwriting Partners, said: “Expenditure on healthcare is a growing percentage of GDP in many areas of the world, with complex liabilities and evolving insurance requirements. The expertise and experience of this team will be incredibly valuable as we look to develop our international healthcare offering. I look forward to working with them.”
About Dale Underwriting Partners
Dale Underwriting Partners is an independent, owner-managed Lloyd’s syndicate that began trading on Jan. 1, 2014 and has a stamp capacity of £90 million ($128 million) for the 2016 year of account. Dale Underwriting is one of eight syndicates managed on a turnkey basis by Asta Managing Agency Ltd., the third-party managing agent at Lloyd’s which manages approximately £1 billion ($1.4 billion) of capacity.
Source: Marketform and Dale Underwriting Partners
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