HDI Global Specialty SE, the new specialty lines insurer, has acquired Neon Underwriting’s bloodstock team.
The team is led by Mark Edwards, who has been Neon’s head of Specialty and class underwriter bloodstock/livestock since 2008. Edwards brings with him a team of three: Deputy Class Underwriter Cathy Olive and underwriters Laura Moore and William Jordan.
The team is seen as one of the bloodstock leaders in the Lloyd’s and London markets, writing a global book notably in the U.K., U.S., France, Australia and Canada, said HDI Global Specialty in a statement.
Mark Edwards has been in bloodstock for over 30 years. Prior to joining Neon Underwriting (formerly Marketform) in 2008, he was managing director of Heath Lambert’s bloodstock division. Cathy Olive has over 20 years’ experience in bloodstock and moved with Edwards to Neon in 2008.
HDI Global Specialty SE launched at the beginning of this year, with the stated strategic aim of combining organic growth with acquisitions of specialty teams and portfolios of high-margin business. It was created from the merging of the specialty lines activities of Hannover Re and HDI Global SE. Total annual premium volumes are expected to be in excess of €1 billion ($1.3 billion).
“When launching HDI Global Specialty SE in January, I said that we would be creating a strong platform to maximize the opportunities that exist within specialty lines,” said Ralph Beutter, CEO of HDI Global Specialty SE. Bringing in Mark Edwards and his team underlines this strategy and is an early sign of both our intentions, and our commitment to responding to clients’ needs.”
“Mark Edwards and his bloodstock underwriting colleagues are one of the most experienced and highly regarded teams in the London market,” commented Richard Taylor, member of the executive board of management and U.K. managing director at HDI Global Specialty SE.
“They are genuine market leaders and an excellent addition to our specialty lines business,” Taylor added. “We will continue to look for organic and M&A opportunities to grow our profitability in our specialty lines business.”
HDI Global Specialty SE operates from six of its own offices and throughout the HDI Global SE network in 150 countries.
Source: HDI Global Specialty SE
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