Jack Kuhn’s Westfield creates $1bn specialty insurer with Lloyd’s Syndicate 1200 acquisition
Jack Kuhn’s (pictured) US-based insurance carrier Westfield has accelerated its entry into the international specialty markets with the closing of its deal to buy Lloyd’s Syndicate 1200 from Argo.
Westfield has completed its strategic acquisition of Argo Underwriting Agency and its Lloyd’s Syndicate 1200. The deal establishes Westfield as a global franchise, increasing Westfield Specialty’s growth in the US market while putting its overall portfolio in excess of $1 billion in premium.
The completion of the transaction accelerates Westfield Specialty’s entry into international markets.
Westfield Specialty was launched in mid-2021 by insurance veteran Kuhn, who has built and scaled several businesses including Sompo International, Vantage and Endurance. The insurer wrote nearly $300 million of premium in the US in 2022.
Kuhn believes its newly expanded team, together with Graham Evans, Westfield Specialty’s head of international insurance, is well positioned to build on the existing strength of Syndicate 1200 and create an “underwriting-focused, market-leading Lloyd’s business”.
“We’re interested in new opportunities for product expansion and in working with clients and brokers to solve problems and find new solutions,” said Kuhn. “This transaction significantly accelerates our strategy to become a leading specialty carrier. We look forward to working with Lloyd’s and the international market to provide superior service and solutions.”
“The Syndicate 1200 team has created a successful business, and we are ready to build on their momentum as part of Westfield Specialty,” Evans added.
Westfield president, CEO and board chair Ed Largent said: “This acquisition demonstrates Westfield’s commitment to the international specialty market. The Lloyd’s of London market offers long-term growth opportunities and we’re excited to offer brokers, agents, and clients greater access to Westfield’s expertise and product offerings.”
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