Johnny Shannon, cargo underwriter at MS Amlin, is reported by Insurance Insider to have resigned to join IQUW as a cargo underwriter. He would be joining colleague Scott Heeley, who became cargo lead underwriter at IQUW at the start of this month.
In June this year Lloyd’s Syndicate Arcus 1856 rebranded as IQUW. That rebrand followed the syndicate’s mid-year pre-emption approval which saw its stamp capacity increase by 65%, enabling it to deliver growth across existing and new lines of business including Marine and Energy, Terror and War, Cargo and Specie, Professional Lines, Property, Cyber, Specialty Reinsurance (including Aviation and Marine) and Property Reinsurance.
IQUW is managed by Arch Managing Agency Limited and is backed by specialist insurer ERS, following a transaction in December 2020 which saw the firm acquire the syndicate’s capacity but not prior liabilities. ERS was working with Arch until the Managing Agency responsibilities were transferred to ERS, which is headed by Peter Bilsby.
At the end of October IQUW closed its acquisition of Agora Syndicate Holdings, which is responsible for providing underwriting services to Lloyd’s Syndicate 3268. IQUW will work with current managing agent Asta to transfer over managing agency responsibilities in coming months.
IQUW is backed by US-based private equity firms Aquiline and Abry Partners alongside an Aquiline-led investor group.