A quick update from Westfield Specialty;
Westfield Specialty’s diversified growth strategy, including renewal rights transactions, as well as organic growth through new underwriting teams helped propel its gross written premium (GWP) to $890mn in the first half of 2025, with a combined ratio of 89.4 percent and underwriting income of $58 million well ahead of planned results.
The International operation produced $438mn in GWP with a 89.4 CR and its US operation produced $452mn in GWP with a 89.1 CR. Westfield Specialty grew its GWP by 13 percent overall, with 21.5 percent growth coming from the US and 5.4 percent coming from International over H1 2024.
The $890mn of GWP booked in the first half of this year is split 51 percent from its US platform and 49 percent from its international operation.
Westfield Specialty president Kuhn stated the emphasis has been on profitable growth at Westfield Specialty, and that focus will continue to be the key driver as the insurer evaluates accretive opportunities to further diversify its portfolio.
Kuhn commented: “We are very pleased with our financial results so far in 2025 in a challenging and evolving marketplace. We look forward to building on our strong results in the second half of this year. I am particularly pleased with the strong growth shown in the UK and Dubai, which now make up half of Westfield Specialty’s GWP.”
Be the first to comment