Chaucer and Markel back Newbridge on political violence & terrorism capacity
Newbridge Risk Partners, an underwriting cell on the Castel MGA formation platform, has secured a new binder with Lloyd’s and London company market capacity to support the continuing growth of its political violence and terrorism insurance and reinsurance business.
The new capacity, provided by Chaucer Syndicates and Markel International Insurance Company, enables Newbridge to offer physical damage, business interruption and liability coverage with limits up to $20 million for operational and construction risks on a wide spectrum of political violence and terrorism products, on a non-referral basis.
Chris Kirby, principal partner of Newbridge, said: “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.
“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 appreciates a partner they can approach either directly or through a local intermediary.
“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.”
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