Global insurance and investment group Starr has agreed to acquire IQUW Group, in a deal that will make Starr’s managing agency the ninth-largest operating at Lloyd’s of London.
The acquisition will expand the range of business Starr underwrites and strengthen its presence across international insurance and reinsurance markets.
IQUW Group, which has gross written premiums of around $1.9bn (£1.5bn), includes two Lloyd’s syndicates: IQUW, a specialty insurer and reinsurer, and ERS, the UK’s largest motor insurer at Lloyd’s. The group also operates IQUW Re Bermuda, its reinsurance platform based on the island.
The merger will bring together Starr’s global insurance capabilities with IQUW’s established market presence, creating one of the most diversified platforms at Lloyd’s.
Following completion of the transaction, Peter Bilsby, chief executive of IQUW Group, will lead Starr’s international business. He will work alongside Stuart Scott, Starr’s president for the UK and EME region, and José Ribeiro, president for APAC and LATAM.
“This strategic acquisition of IQUW Group is about diversification and a focus on underwriting profitability,” said Jeff Greenberg, Starr’s chairman and co-chief executive. “The combination of our companies will give us a larger footprint in the London market and result in a stronger organisation.”
Steve Blakey, president and chief executive of Starr Insurance Holdings, said the deal would expand Starr’s reach in Bermuda, UK retail motor and the London wholesale market, describing these as “the most important wholesale market globally”.
Mr Bilsby said joining Starr was “a natural next step” for IQUW. “Our vision has always been to combine market-leading talent with technology and data analytics to enhance decision-making. Being part of Starr will enable us to scale up our specialist products and capabilities.”
The transaction is expected to close in the first half of 2026, subject to regulatory approval. Both companies will continue to operate independently until then.
The terms of the deal have not been disclosed.
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