2023-10-30 08:30:43
The insurer Helvetia is continuing its international development by opening a branch in the United Kingdom, under the management of Marc Davis. The St. Gallen group has received authorization to underwrite non-life insurance business from November 1.
This involves the development of the Global Solution division which manages activities called ‘special lines’ relating to large corporate risks and integrated insurance solutions.
The opening of the branch is a response to Brexit because from next year business can no longer be taken out on the freedom of service basis. Helvetia already has a ‘very successful’ portfolio of specialist lines in the United Kingdom and will therefore be able to continue these activities thanks to the green light from the regulatory authorities.
The UK branch also has underwriting teams in the ‘International General Aviation’ and ‘Marine’ businesses.
At the end of 2022, the gross premiums recorded by Helvetia Global Solutions were 508 million euros and the premium volume of the specialized lines of the British branch is expected to stand at around 50 million in 2023.
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