Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group’s portfolio of specialist, reinsurance and wholesale broking brands, has further expanded its cross-class follow-capacity solution to include Price Forbes’ property business.
The cross class follow capacity solution was launched in partnership with Beazley back in April 2021 for Price Forbes clients across multiple classes, including cargo, specie, terrorism, financial products, healthcare and marine.
It has $350 million of premium in scope and is now backed by three carriers.
Now, with this latest expansion, a panel of underwriters including Lloyd’s syndicates will follow pre-approved Lloyd’s leaders across placements for all worldwide property business. Around $250 million of premium is in scope.
The portfolio solution will be managed within Price Forbes’ Equinox Division and digitally integrated using its EDGE platform to ease capacity deployment and accessibility for clients.
“The horizontal expansion of our portfolio solutions is a testament to the analytical and modelling capabilities of our team,” said James Masterton, Chairman, Ardonagh Specialty.
“We’re delighted to be able to reach more clients with it and look forward to further developments in coming months as we look to broaden access to the capability across the wider Ardonagh Specialty landscape with focus around data generation.”
Price Forbes CEO Richard Peers also commented: “This is a fantastic development for our clients and producer partners across the world. To enter the new year with exclusive agreements covering $600 million of client portfolios across seven classes makes 2022 a hugely exciting time for our business.”
Chris Rider, Price Forbes Property Chairman, added: “Using data and digital automation to support the placement of clients’ property risks, especially at a time of tightening capacity, will provide certainty and cost effectiveness for our clients across the world. We’re proud to be able to launch this exclusive solution for Price Forbes clients with the support of Ardonagh’s analytical capabilities.”
Steve Dando, Head of Placement, The Ardonagh Group, further stated: “This is the second phase of delivery of meaningful dedicated follow capacity through this solution. We are pleased to be deepening our partnerships with carriers to offer dedicated capital to more of our Specialty client base.”
