Insurer Fidelis has received Prudential Regulation Authority (PRA) approval for the launch of its UK business, which will begin underwriting with immediate effect.
The London-based subsidiary, which has received an AM Best rating of A- (Excellent), will be led by Dan Burrows as UK chief executive officer.
Burrows is joined by Nick Burkinshaw, chairman of specialty and Richard Coulson, specialty lines underwriter, with further underwriting hires to be announced in 2016.
According to Fidelis, the UK business will initially focus on specialty lines including political risk, war, terrorism and political violence, space, specialist marine and energy products. This will complement Fidelis’ established Bermudian subsidiary led by Ben Savill, which focuses on reinsurance, said the firm.
“I am delighted to announce the launch of our London underwriting platform which represents a vital component of our strategy,” said Richard Brindle, group chief executive officer of Fidelis.
“Strong mutually beneficial relationships are essential to our continued success and ensuring that we are available and accessible to our broking partners and clients in leading markets is key to maintaining and developing these relationships.
“A London-based business gives us the platform to build out our specialist insurance business and under Dan’s leadership I am certain that we will rapidly establish ourselves as a new force within the London market.”