Deals: Starr is Buying IQUW Group

The latest acquisition news from Starr;

Starr, a global investment and insurance organization, today announced that it has entered into a definitive agreement to acquire IQUW Group. The acquisition of IQUW Group will expand the classes of business that Starr underwrites and will position the combined company for growth across a broader range of global market segments. As a result of the acquisition, Starr’s managing agency is set to become the ninth-largest agency operating at Lloyd’s.

IQUW Group has gross written premiums (GWP) of approximately $1.9 billion and includes two Lloyd’s syndicates: IQUW, a specialty (re)insurer that operates across multiple specialty lines and ERS, the U.K.’s largest motor insurer at Lloyd’s, as well as IQUW Re Bermuda, its Bermuda-based reinsurance platform. The acquisition will bring together Starr’s specialty insurance and reinsurance capabilities with IQUW Group’s strong market presence and complementary portfolio, creating one of the most diversified platforms at Lloyd’s.

Outside of the Lloyd’s market, Starr writes commercial non-life insurance globally, with coverage in over 170 countries across 6 continents. Following completion of the transaction, Peter Bilsby, IQUW Group’s chief executive officer, will lead Starr’s international business, working closely with Stuart Scott, Starr’s president of U.K. and EME, and José Ribeiro, Starr’s president for APAC and LATAM.

“This strategic acquisition of IQUW Group is about diversification and a focus on underwriting profitability, consistent with our own. The combination of our companies will give us a larger footprint in the London market and result in a stronger organization,” said Jeff Greenberg, chairman and co-chief executive officer of Starr. “We have known and respected Pete Bilsby for a number of years. He has built an exceptional team, and I am delighted that he will lead our international business.”

The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions. Until the deal closes, both companies will continue to operate independently. Terms of the transaction have not been publicly disclosed.