Starr has announced its acquisition of IQUW Group, enhancing its underwriting capabilities and market presence in the insurance sector.

Target Information

Starr, a prominent global investment and insurance organization, has recently announced a definitive agreement to acquire IQUW Group. This strategic acquisition aims to enhance Starr's underwriting portfolio and position the combined entity for growth across a diverse range of global market segments. Notably, upon completion, Starr's managing agency will ascend to the status of the ninth-largest agency operating at Lloyd’s of London.

IQUW Group boasts gross written premiums (GWP) totaling approximately $1.9 billion and encompasses two Lloyd’s syndicates: IQUW, a specialist (re)insurer that caters to multiple specialty lines, and ERS, which is recognized as the largest motor insurer in the U.K. at Lloyd’s. Additionally, IQUW Re Bermuda, a Bermuda-based reinsurance platform, will also be part of the acquisition. By merging Starr’s specialty insurance and reinsurance capabilities with IQUW Group’s robust market presence, the transaction is set to create one of the most diversified platforms in the Lloyd’s market.

Industry Overview in the U.K.

The insurance industry in the United Kingdom holds a crucial position within the global market, particularly with London being acknowledged as a global insurance hub. The presence of Lloyd's of London significantly contributes to the U.K.'s r