P&I and marine insurance group Thomas Miller Specialty has concluded the acquisition of the book of business from Fixed premium MGA Lodestar Marine.
Vicky Clarke, underwriter at Lodestar Marine is joining the Thomas Miller Specialty team. Vicky has over 13 years’ experience in the marine insurance market as an underwriter and she will bring not only sector expertise but will ensure continuity for renewing business.
Lodestar Marine announced this year that it had stopped handling all claims for P&I insurance policies underwritten by the firm on behalf of its then capacity provider Aspen.
Lodestar said: “We are pleased to advise that Thomas Miller Specialty has acquired Lodestar’s book of business, and we will be working with Thomas Miller Specialty to ensure a smooth transition for 2020 renewals.
“Thomas Miller Specialty is widely recognized as a market leading global insurance provider across a number of sectors and is one of the oldest dedicated providers of worldwide fixed premium Protection and Indemnity insurance.
Danielle Champion, Chief Executive Officer, Thomas Miller Specialty, says: “The purchase of Lodestar’s book is a logical, strategic fit for us and creates further scale in an increasingly competitive market. It will further enhance our service offering to our fixed premium P&I customers.”
Hugo Wynn-Williams, Chairman Thomas Miller Specialty, says: “We are committed to consolidating our fixed premium protection and indemnity offering and building up our MGA business.”