Rokstone, the International Speciality (Re)Insurance MGA part of Aventum Group, has announced the launch of a new $18m (£12.9m) Global Facultative General Marine Cargo facility backed by A rated global carriers.
The firm said it has launched the new facility as it aims to “continue to grow its geographic and digital presence and diversify its speciality product range”.
The facility uniquely includes $5m (£3.6m) for niche selective cargo treaties, offering carriers writing specialist products with “proven track records”, new “innovative” reinsurance capacity solutions using the same A rated global carriers. The MGA will also be launching additional Direct wholesale capacity in the next few months.
Rokstone revealed it has secured Robert Birchard, “one of the London market’s most experienced underwriters”, to join the MGA as a cargo underwriter to lead and grow the Marine division.
Bichard started his career in 1978 at the Sturge Syndicates in Lloyd’s before spending time as a Lloyd’s broker. He then spent 12 years as a cargo underwriter on the XL syndicate before taking the position as senior cargo and specie underwriter for Sirius International. Latterly he spent time writing cargo and specie at Starstone, Argenta and the MGA K2 International.
Birchard said: “I’m thrilled and excited to be joining the Aventum family. It is a Group that has achieved incredible growth over the last few years and appears to have unfathomable ambition and I’m genuinely excited to be a part of that roadmap.
“Marine Cargo is a sustainable class that has seen incredible rate rises and adjustment to terms during this hard market. Compared to any previous hard markets, even post 9/11, I’ve not seen rate rises like this before. Now is certainly the best time in 20 years to write Cargo business.”
Rokstone is one of the world’s largest MGAs, with offices in the UK, Europe, USA, Asia, Africa and the Middle East.
It is a specialist MGA serving the needs of international (re)insurance brokers in specialty lines business. It currently underwrites $500m (£360m) GWP in several specialty lines including Marine, Terrorism and Political Violence, Direct and Facultative Property, Treaty Property, Construction and Engineering and Liability.