To support the growth of its political violence and terrorism insurance and reinsurance business, Newbridge Risk Partners, an underwriting cell on the Castel MGA formation platform, has secured a deal with Lloyd’s and London company market capacity.
The new capacity will enable Newbridge to offer up to $20 million for operational and construction risks on a wide spectrum of political violence and terrorism products, on a non-referral basis.
“Being able to attract capacity from such respected and prominent markets reflects our success in delivering solid results through a broad range of distribution channels,” said Chris Kirby, principal partner of Newbridge.
Kirby said Newbridge’s focus on underwriting industrial and commercial risks in emerging markets addresses the needs of a client base that requires more than a one size fits all product and that appreciates a partner they can approach directly or through a local intermediary.
He added; “our new capacity partners value the team’s underwriting and territorial expertise and our ability to react quickly in these changing environments to provide strong growth with profitable results.”
