Hiscox has acquired the renewal rights for the majority of business currently placed with Marlborough Underwriting Agency Syndicate 1861.
Renewals will be offered through Hiscox Syndicate 33.
Hiscox said the deal with Marlborough, a wholly owned subsidiary of Berkshire Hathaway, would take effect from 1 April.
The deal will cover renewal rights on business written in the energy, marine, and energy liability and cargo accounts. Marlborough will retain the marine excess loss account and the marine hull account. Hiscox said it would provide a quota share of reinsurance of the hull portfolio.
Hiscox director of underwriting and underwriter of Syndicate 33, Robert Childs, said: “We are delighted to strengthen our position in the marine market with the addition of such a mature and well underwritten portfolio at a time of such attractive rates.”
