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Towergate Underwriting launches new London specialty business

IBR Staff Writer Published 02 August 2017

Towergate Underwriting has launched Geo Specialty, a new specialty business based in London.

The company has created a new team of market specialists for the business.

Political violence led by Marcus Meredith is the first market to go live followed by others across the year.

Meredith is experienced in political violence MGA underwriting for both local and international territories. He joined Towergate from DUAL International which is an underwriting agency owned by Hyperion.

Towergate CEO Paul Dilley said the new business was a fundamental part of their strategy to become a key player in the specialty market.

“We have been talking to the market about our intentions for some time and I’m delighted that we’re now in a position to launch the first element of Geo Specialty,” he said.

“With political violence, we have created a market-leading, bespoke terrorism product for both private and commercial clients, backed by Lloyd’s of London capacity. It provides choice in an ever more uncertain world, and gives far more comprehensive coverage than the Pool Re offering.

Dilley continued: “This is our first step towards building a strong London Underwriting business. We are identifying markets where we can really add value and make a difference through our underwriting expertise and products.”

Towergate underwriting agency is a part of the newly formed insurance intermediary, Ardonagh Group. KIRS Midco 3 has changed its name to Ardonagh Midco 3 recently in July 2017.

In May 2016, Towergate announced the formation of a speciality London markets underwriting division.

The division was formed to write a general liability portfolio, featuring employers liability, public liability and products liability. It is based out of the Mitre Street office.