5 February 2014 Insurance

ICAT and Ariel partner to offer US cat capacity

US property catastrophe specialist ICAT has partnered with Ariel Syndicate 1910 to offer additional capacity to small and medium catastrophe exposed businesses in the US.

Between ICAT and Ariel, which underwrites global re/insurance business through offices in London and Bermuda, the venture is estimated to generate $15 million in premium income in the first year.

“We respect and admire ICAT’s disciplined approach to underwriting catastrophe-exposed business,” said Chris Fisher, chief underwriting officer, property insurance of Ariel. “We are excited about working with them to expand Ariel’s presence in the US marketplace.”

Gregory Butler, president of ICAT said: “We have been close to the Ariel organisation for some time, and have similar philosophies in our approach to underwriting. We are pleased to have a partnership with this highly regarded Lloyd’s syndicate.”

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