Specialty lines managing general agency (MGA) Kemah Capital has expanded into the US marine underwriting market.
Kemah will initially offer a US admitted recreational yacht insurance product, underwritten from a newly opened office in Essex, Connecticut.
Further expansion into other marine lines is expected to follow at later dates.
The yacht account will be underwritten by Tom Carroll, who has been appointed as Managing Partner of Kemah Marine.
Carroll’s additional responsibilities will include the eventual building out of Kemah’s marine presence in the Hull, Liability and Cargo lines.
Recreational yacht limits offered will be up to $1 million hull and $1 million protection & indemnity on behalf of Chicago-based insurer Clear Spring Property and Casualty Company.
Commenting on the launch, Graham Bell, President of Kemah Capital, said: “The opening of Kemah’s marine business is consistent with our long term strategy of controlled expansion into segments where we believe we can add true value to our customers and produce superior results for our capacity providers. We are delighted to welcome Clear Spring as a partner and Tom Carroll as a colleague.”
Dom Tobey, Chairman of Kemah Capital, also commented: “The addition of Clear Spring to our panel of capacity provider partners is a very important step for Kemah and we look forward to developing our business with them over the years ahead. Tom’s longstanding reputation and expertise in the marine sector will be a great asset to Kemah and we all look forward to working with him.”
Carroll added: “I am delighted to be associated with Kemah Capital whom have been successful underwriters of specialty products that deliver sustainable and profitable growth.”
“Kemah also has a history with marine and recognizes the opportunity to deliver dedicated expertise and white glove service to the yacht producer and owner, while enhancing its existing appetite for additional marine lines.”
