Specialist Lloyd's underwriter Marketform has transferred its international medical malpractice insurance business to Dale Underwriting Partners.
The decision comes following a comprehensive review of the business line. Marketform will cease to write international medical malpractice insurance business, effective immediately.
The underwriter will continue to manage existing international medical malpractice claims, however as well as any new claims arising from policies currently underwritten by Marketform.
As part of the transaction, a team of four underwriting professionals: Andrew Hornsblow, Thomas Wagstaff, Benjamin Wilson and Amy Everingham, will join Dale Underwriting Partners.
The team, led by Hornsblow, will join Dale Underwriting from Thursday 17th March 2016. The decision was taken in conjunction with Marketform’s shareholder, American Financial Group, and is part of a broader strategic review of the Group launched under new chief executive officer, Martin Reith.
Reith said: “I would like to thank Andrew and his team for their commitment and contribution to Marketform over the years and for their patience in recent months. We wish them all the best for a successful future with Dale Underwriting.”
Duncan Dale, chief executive, Dale Underwriting Partners, said: “We are delighted to welcome Andrew, Tom, Ben and Amy to the team. Expenditure on healthcare is a growing percentage of GDP in many areas of the world, with complex liabilities and evolving insurance requirements.
“The expertise and experience of this team will be incredibly valuable as we look to develop our International Healthcare offering. I look forward to working with them.”
Dale Underwriting Partners is one of eight syndicates managed on a turnkey basis by Asta Managing Agency, the third-party managing agent at Lloyd’s which manages approximately £1 billion of capacity. Dale Underwriting Partners was formed in 2014, and has a stamp capacity of £90 million for the 2016 year of account. The syndicate targets a range of property and casualty lines, both on an insurance and reinsurance basis.
Marketform, Lloyd's, Insurance, Medical Malpractice, Dale Underwriting Partners, Andrew Hornsblow, London, UK