XL Insurance, the global insurance operations of XL Capital Ltd, today announced the strengthening of its equine capabilities with the acquisition of an underwriting and claims team from London-based Unicorn Underwriting Limited (“Unicorn”), a subsidiary of THB Group plc.
The team of five is headed by Guy Morrison who has over 20 years of underwriting experience in the international equine insurance market. In his new role as Chief Underwriting Officer of Equine, Guy Morrison will head XL Insurance’s global equine operations with underwriting centres in London, UK and Kentucky, USA.
XL Insurance has also agreed to service the book of bloodstock business formerly underwritten by Unicorn.
Neil Robertson, Chief Underwriting Officer for Global Specialty at XL Insurance commented: “The appointment of Guy Morrison and his team further strengthens our capabilities and commitment to bloodstock insurance. The team has a wealth of global equine underwriting and claims handling expertise, particularly in the London market.
“We are especially pleased to have worked closely with Unicorn in ensuring a continued quality service for its existing brokers and customers.”
James Truscott, Managing Director of Unicorn, commented: “It is extremely satisfying when a deal comes together in which all parties win. XL Insurance recognised the value of our market-leading bloodstock team which originally formed the nucleus of Unicorn. Unicorn’s strategy has subsequently evolved and we recognised that the skills and ambitions of the bloodstock team would be better served within XL Insurance’s infrastructure. I would like to thank the bloodstock team for their excellent work within Unicorn and wish them and XL Insurance all the best in their future ventures.”
XL Insurance’s global equine operations offer a broad spectrum of bloodstock coverage including mortality, theft, specialized perils, barrenness/prospective foal, stallion availability, infertility and loss of income.
