The decision was made following a strategic review
Managing general agent (MGA) GrovesJohnWestrup Private Clients has been put into run-off.
The firm, which is the high net worth (HNW) arm and trading name of Munich Re Specialty, ceased writing new business on 1 July 2024.
The decision was made after Munich Re Specialty carried out a review of its businesses.
A spokesperson said: “A recent strategic review of our businesses has led to the difficult decision that GrovesJohnWestrup Private Clients will cease writing new business from 1st July.
“Detailed plans are currently being drawn up to ensure that the run-off is handled in accordance with our contractual and regulatory obligations.”
The business
London-based GrovesJohnWestrup Private Clients launched in the UK in 2020 and offered a range of propositions.
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This included buildings, contents, valuables, antiques, home emergency, home cyber and travel cover.
All covers were backed by Munich Re.
“Munich Re Specialty continues to focus on its core portfolio of products and solutions concentrating on primary specialty risks,” a spokesperson said.
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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