Helvetia authorised to underwrite UK non-life business

Written by Michael Griffiths

31/10/2023

Regulators have authorised Helvetia Global Solutions to underwrite non-life insurance business in the UK, with the move to come into effect tomorrow (1 November).

Helvetia focuses on international non-life business, in specialty lines and embedded insurance solutions.

The group’s UK branch is already home to experienced underwriting teams for international general aviation and marine business. Helevetia indicated that the opening of the branch is in response to Brexit, where UK business can only be underwritten on a freedom of services basis until 31 December 2023.

Helvetia already offers successful specialty lines cover in the UK and will be able to continue this business as a result of the regulatory approval.

As of the year-end 2022, Helvetia’s gross written premiums were around €508m. The group’s expected specialty lines premium volume of the UK branch for 2023 amount to around €50m.

Group CEO of Helvetia, Fabian Rupprecht, commented: “With the UK branch, we are further diversifying our business mix. The opening of this additional branch is a further step in continuing the internationalisation of Helvetia Group.”

In preparation for the new branch opening, Helvetia has appointed Marc Davis as CEO of the UK branch. Davis joined Helvetia in October last year and has extensive experience in the insurance industry.

CEO specialty markets of Helvetia, David Ribeaud, added: “With Marc Davis, we have gained a very experienced professional who will support the successful establishment of the UK branch as well as the assessment of local business opportunities in the UK in alignment with our strategy.”

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