The latest news from Verve Risk Services for you;
Verve Risk Services (Verve), the specialist underwriting agency, today announces the launch of Verve Financial Institutions (Verve FI), continuing the expansion of its underwriting driven, mid-market specialist business.
Led by Steve Redding, a leading Financial Institutions (FI) underwriter, Verve FI offers financial lines products on a global basis with tailored solutions covering banks, stock exchanges, alternative lenders and asset managers for SME to mid-market financial institutions. Verve FI is backed by 100% Lloyd’s capacity.
Redding assumes the role of Head of Financial Institutions at Verve FI. He has nearly 40 years underwriting experience in the London market, the majority of which has been specialising in FI. He was previously Managing Director of Financial Institutions at Volante Financial and Professional Lines and has held senior FI underwriting and leadership roles in Antares and Wurttembergische Versicherung.
Redding is joined at Verve FI by Beth Convey as senior underwriter, Charlotte Flook as underwriter and Aaron Jones as assistant underwriter all of whom previously worked with Steve prior to joining Verve.
Scott Simmons, Director at Verve, said: “On the eve of our 10th anniversary, this is an important milestone in the growth of Verve. Steve and the team are a significant addition to the business, bringing us established global mid-market expertise and appetite that will further strengthen our brand and footprint in the US and globally.
“Attracting such a respected and experienced Financial Institutions underwriting team is evidence of our commitment to providing the tools and support to help underwriters build sustainable and profitable books of business.”
Commenting on the decision to join Verve, Redding, said: “Verve is an underwriting focused business, built for underwriters, by underwriters. We are very much aligned with the business’s core values and see opportunities new product and broker relationship opportunities.”
Beth Convey, added: “The Verve MGA model provides us with a robust infrastructure and systems support from which we can not only provide continuity to our current clients and but also the capabilities to achieve sustainable growth, product innovation and maintain quality underwriting.”
Verve continues to explore growth opportunities to work with specialist underwriters and teams who have a deep understanding of their areas of expertise with a strong technical underwriting capability and long-term capacity support.
Verve was established in 2016 as an underwriting cell of Castel Underwriting Agencies Limited. The team completed a management buyout in 2023 with investment from B.P. Marsh & Partners Plc.
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