MGA Rokstone eyes NA excess fac property market, hires ‘industry legend’
Re/insurance MGA Rokstone, part of the Aventum Group, has launched a new North American excess facultative property unit under the former CUO of Accredited USA and Ascot USA.
The new unit, backed by Lloyd’s and led by Hiscox 33, launches with an initially $5 million line.
Paul Amrose will head up the new North American excess facultative property team, based in Connecticut.
Amrose previously served as chief underwriting officer for Accredited USA and Ascot USA and as a co-founder of Direct Fac. He joins Rokstone after serving his notice with Accredited.
Amrose’s appointment is the latest in a number of high profile appointments announced by Rokstone in recent months including Mike Nukk, Jordan Lanford and Darren Delande. In the last 12 months the MGA has launched ten new divisions in the UK, Ireland and the US, creating Specialist teams in marine, aviation, A&H, PI, D&O, credit & surety treaty, power & energy, contingency.
James Potter, CEO of Rokstone, said: “We’re delighted to hire another industry legend. We’ve seen a steady stream of talent crossing the threshold at Rokstone and there’s no sign of that changing. We already have a number of other new launches planned early in 2024 as we continue to grow a diverse portfolio of non-correlating business. The strategic intent behind North American Excess Facultative Property lies in capitalising on the dynamic market conditions, positioning ourselves to meet the growing demand for specialised coverage for both individual risk and auto fac.
He added: “Rokstone is truly the most vibrant and exciting underwriting business in the world currently. Independent, unhindered by debt, with a consistent market beating performance, we have successfully attracted some of the world’s best underwriting talent. We’ve seen incredible growth in the last year as a result, whilst maintaining top quartile loss ratios. Looking forward we have serious ambitions to more than double our GWP in the near term and expand into new lines and target territories. We continue to explore strategic opportunities with our close carrier partners and continue to attract market leading entrepreneurial talent.”
Paul Lawrence, chief underwriting officer, Hiscox London markets, said: “We like working with Rokstone, they continue to attract top talent, have an excellent platform, and most importantly they deliver.”
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