Westfield Specialty International on Thursday said it plans to launch a Luxembourg subsidiary to write business alongside its Lloyd’s 1200 syndicate.
The Luxembourg company is expected to write new business from April, subject to regulatory approval. It will underwrite risks on company paper alongside Westfield’s existing capacity within Syndicate 1200 at Lloyd’s.
The specialty insurer said it expects to make a CEO appointment to lead the new company “in the coming months.”
Westfield Specialty is taking a multiyear view on growth with the build-out of its European operations, Jack Kuhn, president of Westfield Specialty, said in a statement.
Westfield Specialty currently underwrites in the U.S., U.K. and Dubai.