Inigo Limited, the new London insurance group that has raised $800m in start-up capital from a group of blue chip global investors, is pleased to announce that it has received approval in principle from the Corporation of Lloyd’s and will commence underwriting for 2021, as planned.
The company also announces that it has appointed George Stratts, the former President and CEO of AIG’s Lexington Insurance Company, as Head of First Party.
George Statts is the first of a number of senior underwriters that will join Inigo in the coming weeks and months to work alongside Richard Watson, Chief Executive, and his co-founders Russell Merrett and Stuart Bridges. In his new role he will build a leading property underwriting unit.
Richard Watson said: “Our plans are coming together, and we now have the green light to start underwriting from January. I would like to thank Lloyd’s for supporting us in this new venture and George for joining our rapidly expanding team. The Lloyd’s market promises to be an exciting place in 2021 and I am delighted we are going to be a part of it. This is a great opportunity to build a highly focused business, which attracts good underwriters and gives them the freedom, and the tools to succeed. Our new technology-based underwriting, will be there to support brokers and clients alike in under-served sectors of the market.”
George Stratts added: “After my time at Lexington I was looking for a completely fresh challenge and Inigo provides that. It is great to be part of this start-up team, with the opportunity to build up a leading business from scratch. I am looking forward to working across the London insurance market and creating something quite special.”