Global insurance provider Thomas Miller Specialty has announced that it has concluded the purchase of Lodestar Marine’s book of business.
Danielle Champion, chief executive officer of Thomas Miller Specialty, said that the purchase is consistent with her firm’s strategy to create scale in a competitive market.
“The purchase of Lodestar’s book is a logical, strategic fit for us and creates further scale in an increasingly competitive market,” said Champion. “It will further enhance our service offering to our fixed premium P&I customers.”
“We are committed to consolidating our fixed premium protection and indemnity offering and building up our MGA business,” said Hugo Wynn-Williams, chairman of Thomas Miller Specialty.
As part of the purchase, Vicky Clarke, underwriter at Lodestar Marine, is joining the Thomas Miller Specialty team. Clarke has over 13 years’ experience in the marine insurance market as an underwriter.
In a statement, Thomas Miller said that Clarke’s appointment will bring “not only sector expertise but will ensure continuity for renewing business.”