The Lloyd’s syndicate will partner with local firm
Specialty insurer StarStone has joined forces with a Dubai MGA to establish a hub in the country.
Subject to regulatory approval, Malakite will target specialty business in the MENA region offering “flexible multi-class insurance for energy, marine, and property terrorism risks”, according to a recent announcement.
The MGA will be led by partner Giles Hussey, who was previously Swiss Re Corporate Solutions head of MENA. Hussey joins with 14 years of experience in the MENA region.
Hussey added: “Giving clients access to flexible capacity, specialty expertise and locally-relevant solutions is a founding principle of Malakite. This, combined with the operational capability and financial strength of Lloyd’s, will provide clients in the region with the very best the market has to offer.”
Lloyd’s Syndicate 1301, managed by StarStone, will be the lead capacity provider.