Helvetia Global Solutions has received confirmation from UK regulators that its authorisation to underwrite non-life insurance business in the UK has been approved and comes into effect on 1 November 2023.
Helvetia has appointed Marc Davis as CEO of the UK branch, who joined Helvetia on 1 October 2022 and holds extensive experience in the insurance industry.
He has previously served as Country Manager UK and Ireland for Swiss Re Corporate Solutions, as Commercial distribution director at RSA, and as head of sales & marketing at Marsh’s IRM division in the UK.
David Ribeaud, CEO, Specialty Markets of Helvetia Group, commented, “With Marc Davis, we have gained a very experienced professional who will support the successful establishment of the UK branch as well as the assessment of local business opportunities in the UK in alignment with our strategy.”
Fabian Rupprecht, Group CEO of Helvetia, said, “With the UK branch, we are further diversifying our business mix. The opening of this additional branch is a further step in continuing the internationalisation of Helvetia Group.”
Helvetia explained the opening of the branch is in response to Brexit, where UK business can only be underwritten on a freedom of services basis until 31 December 2023.
“Helvetia already offers very successful specialty lines cover in the UK and will be able to continue this business thanks to the regulatory approval,” the firm added.
As of year-end 2022, the gross written premiums of Helvetia Global Solutions were around €508 million. Anticipated specialty lines premium volume of the UK branch for 2023 amounts to around €50 million.
