Rokstone, the London-based speciality re/insurance managing general agent (MGA), has launched a US$18 million global facultative general marine cargo facility.
Backed by A-rated global carriers, the facility includes US$5 million for niche selective cargo treaties, which offers innovative reinsurance capacity for carriers writing specialist products with proven track records.
The MGA, which is part of Aventum Group, will also be launching additional direct wholesale capacity in the next few months.
Rokstone has secured Robert Birchard, one of the London market’s most experienced underwriters in this sector with 43 years’ experience in Lloyd’s, to join the MGA as a cargo underwriter to lead and grow the marine division. Birchard started his career in 1978 at the Sturge Syndicates in Lloyd’s before spending time as a Lloyd’s broker. He then spent 12 years as a cargo underwriter on the XL syndicate before taking the position as senior cargo and specie underwriter for Sirius International. Latterly, he spent time writing cargo and specie at Starstone, Argenta and the MGA K2 International.
“I’m thrilled and excited to be joining the Aventum family. It is a group that has achieved incredible growth over the last few years and appears to have unfathomable ambition, and I’m genuinely excited to be a part of that roadmap,” commented Birchard in a statement.
“Marine cargo is a sustainable class that has seen incredible rate rises and adjustment to terms during this hard market. Compared to any previous hard markets, even post 9/11, I’ve not seen rate rises like this before. Now is certainly the best time in 20 years to write cargo business,” he added.
With offices in the UK, Europe, U.S., Asia, Africa and the Middle East, Rokstone currently underwrites US$500 million gross written premiums in specialist lines such as marine, terrorism & political violence, direct & facultative property, treaty property, construction & engineering and liability. Previously known as Direct Insurance Group, Rokstone’s parent company was renamed Aventum in April 2021. Aventum is also home to Consilium, a Lloyd’s and London market broking business.
Source: Rokstone
Topics USA Talent Excess Surplus New Markets Trucking Insurance Wholesale Lloyd's
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