Barbican Insurance has 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."