By Rebecca Delaney
March 18 - (The Insurer) - Aventum Group-owned Rokstone has secured a binder agreement with Somers Syndicates 3705 and 5423 to provide the specialty MGA with capacity for international facultative property, power and onshore energy.
Somers Group, the former Watford Re business owned by Arch Capital, received regulatory approval in December for its wholly-owned subsidiary Lime Syndicate Management to operate as a Lloyd's managing agent.
Somers Re acquired Lime Syndicate Management last year as part of specialty (re)insurance group's plans to expand its operating footprint via Lloyd’s.
Syndicate 3705 commenced underwriting on January 1 with a focus on delegated authority and consortium opportunities.
The latest binder agreement further expands Rokstone’s portfolio of markets, which includes Munich Re, Allianz, Arch Re Bermuda and Aviva.
According to Rokstone, the team now underwrites in excess of $300 million GWP in worldwide property D&F business.
In December, Rokstone strengthened its property D&F team with the appointment of Henry Hogarth as senior underwriter, formerly head of facultative as Castel Underwriting Agencies.
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