Barbican announces strategic partnership with Inter Hannover
26 March 2014
Agreement to facilitate growth of UK property & casualty division
Barbican Insurance has today announced a new underwriting facility between Barbican Underwriting Limited – the firm’s UK property & casualty underwriting division – and International Insurance Company of Hannover plc (Inter Hannover).
Launched in 2011, Barbican Underwriting Limited has already established a strong presence in the UK property & casualty sector. The arrangement with Inter Hannover will boost the division’s underwriting capacity, enabling it to expand its market position. This capacity is in addition to that currently provided by Barbican Syndicate 1955. With immediate effect, Barbican Underwriting Limited will underwrite UK property & casualty risks on behalf of both Barbican Syndicate 1955 and Inter Hannover.
Commenting on the announcement, Stuart Kilpatrick, head of UK insurance at Barbican Underwriting Limited, said: “Over the past three years, Barbican Underwriting Limited has worked hard to secure its position in what is a highly competitive sector of the market. This new underwriting facility with Inter Hannover provides us with the ability to further capitalise on the successful relationships we have built with our brokers to achieve strong, sustainable, long-term growth.”
Nick Parr, CEO of Inter Hannover, added: “This underwriting arrangement with Barbican Underwriting Limited reaffirms our commitment to the UK market.”
Barbican, energy, White, Reeves, Booth
+44 (0)20 7082 1910
Allen & Clapham
+44 (0)7988 478 824
Notes to Editors
Formed in 2007, Barbican Insurance underwrites business predominantly through its Syndicates at Lloyd’s. It also has a non-Lloyd’s financial solutions business based in Guernsey which offers insurance and reinsurance programmes to the global market and a number of service companies, including: Castel Underwriting Agencies Limited, Professional Indemnity Protect Limited and Seacurus Limited.
Barbican Syndicates at Lloyd’s have a stamp capacity of £250m for the 2014 year of account and underwrite marine, aviation and transport insurance and reinsurance, property insurance and reinsurance, and specialty lines, including: casualty reinsurance, cyber liability, healthcare liability, financial and professional lines, and professional indemnity.
Inter Hannover www.inter-hannover.com
Inter Hannover is wholly owned by Hannover Re, one of the leading reinsurance groups in the world. Inter Hannover are registered in the UK and are run by a small, streamlined team of insurance experts.
Inter Hannover specialise in writing primary insurance business via agents or similar organisations in Europe & are extending their interests steadily in their chosen markets. Inter Hannover know and understand their business intimately and believe in building close individual working relationships with their underwriting agents and other partners, who can trust our strong capital base and 'A' rating to provide excellent security.
Inter Hannover ratings in detail are AA- ("Very Strong") S&P and A+ ("Superior") A.M. Best.