Lancashire launches US subsidiary
Lancashire has launched its new US excess and surplus subsidiary, meaning it can now underwrite more business in the US.
The Bermuda-based re/insurer said Lancashire Insurance US world expand its international footprint and gives the group the ability to write business that it previously did not have access to.
LUS operates under a delegated underwriting arrangement with Lancashire’s UK platform and is focused on the US excess and surplus market, with initial products being energy casualty and property.
Huw Jones, who was group head of specialty insurance, has been named CEO of Lancashire Insurance US (LUS)
Lancashire group CEO Alex Maloney said: “This is a significant milestone in the strategic development of Lancashire, giving us access to business that we could not write before through new distribution channels and with new clients. We are pleased to welcome the new US team to the Lancashire Group and look forward to working with them.”
Jones added: “We are excited to have launched LUS and we have built a really strong team of underwriters and within our support functions. We look forward to connecting with our new trading partners and offering the underwriting expertise and excellent client service that Lancashire is renowned for.”
Lancashore announced last August that it would open a US subsidiary
https://www.bermudareinsurancemagazine.com/news/lancashire-to-set-up-us-operation-in-2024, saying it would enable it to take advantage of rising rates. Maloney said then thsat Lancashire US would be complementary to the company’s existing capabilities “and will give us the ability to write business that is within our appetite".
Christopher Curtin is head of US property and joined LUS in September 2023. Curtin has over 25 years of market experience in brokerage and underwriting. Prior to joining Lancashire, Curtin was head of US property at Everest Insurance and has also held senior property roles at AIG and as a property broker with Aon and Integro Insurance Brokers.
Brian Quinn is senior vice president energy casualty and joined LUS in June 2023. Prior to joining Lancashire, Quinn was senior underwriter at AXA XL on the North America energy casualty team, and also held underwriting roles at XL Catlin and Energi Insurance, a Massachusetts based specialty MGA.
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