ERS, the specialist motor insurer, has announced its backing of Arcus, Lloyd’s syndicate 1856, giving the firm the capability to write targeted Specialty Commercial and Reinsurance lines. The terms of the deal will see ERS acquire the business capability, not prior liabilities. ERS will work with Arch Managing Agency Limited, subject to Lloyd’s approval, to transfer the Managing Agency responsibilities in the coming months.
The move follows on from the recent announcement that ERS is planning to expand its core motor business to enter specialty Commercial insurance lines, under the stewardship of new group CEO Peter Bilsby and private equity owner, Aquiline.
Peter Bilsby commented: “Following on from announcing our expansion plans, we’re delighted to have been able to move quickly to kick-start our growth plans. We have an ambitious agenda to create a balanced multi-class insurance and reinsurance business over the medium term. The last month or so has been exceptionally busy as we have been building out our strategy to create a modern, analytical business. We look forward to welcoming the Arcus team into the fold. We can’t wait to get started”.
