Brit Global Specialty Assumes Renewals for Legacy Catlin’s U.S. Yacht Business

Brit Global Specialty USA said it has reached an agreement for the exclusive renewal rights for part of XL Catlin’s directly written yacht portfolio.

The agreement relates to legacy policies written by Catlin, prior to its acquisition by XL.

BGSU will service existing legacy Catlin policies through to expiration, after which BGSU will provide renewal quotes to eligible customers.

This follows the appointments of Tom Carroll as senior vice president, Marine, and Craig McGinnes as vice president, Yacht, in 2016 to expand BGSU’s marine footprint in the U.S. Both were previously at XL Catlin, and bring combined experience of over 50 years within the sector.

Nick Davies, president, Brit Americas, said his company has identified U.S. marine insurance as an “important and attractive market” for Brit.