Guernsey-domiciled Insurer ANT Exceptional Risks will commence underwriting a Kidnap & Ransom and Marine Piracy account, partnering with Schillings Critical Risk to support its product.
ANT was recently launched in October last year by former AXA XL executive Jonathan Beck and underwriter Richard Spurrier, with an initial focus on Fine Art, Jewellery and Classic Car exposures.
Beck commented: “We’re delighted to announce this partnership with Schillings Critical Risk.
“Critical to this product is the support of first class, third party responders who are able to act independently of the Insurer and obtain swift and safe resolution of any insured events our clients encounter.
“The landscape we operate in is wholly different to that of 20 years ago and being in a position to offer our clients access to media experts, data protection lawyers, litigators and many more subject matter experts all under one roof within Schillings is truly unique.
“The claims we deal with now are multifaceted and require many different skill sets.”
Beck explained that now is the appropriate time for the company to enter this market, having seen numerous significant insurers pull back from this class of business during 2021.
“In-fact, the bulk of our reinsurance has been provided by carriers who have stepped back from being Insurers in this class, having realised their capital is better deployed in a reinsurance capability,” he said.
“We expect more to follow suit and will gladly explore options with Insurers looking to exit the class and take reinsurance positions”.
John Chase, Partner, added: “At a time when we are perhaps more exposed than ever before, our approach to privacy, security and personal safety needs to stay one step ahead.
“Like ANT, Schillings understands the changing landscape of threats and risk response, and why we need a range of experience, expertise and disciplines to act effectively”.
