Global broker WTW has announced the launch of Verita, a specialist managing general underwriter.

Verita will serve clients across property, casualty and financial lines. The company said it would initially focus on the real estate, hospitality and leisure, financial institutions, and professional services sectors.

The startup MGU said it was focused on providing both specialized insurance solutions and exceptional service, aiming to deliver a seamless, stress-free experience to customers.

Verita has deep expertise in programs from guaranteed-cost policies to tailored alternative insurance solutions, the company said.

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The new MGU will be led by president and CEO Edward Chiang. Prior to joining Verita, Chiang served as GRS chief actuary and finance officer at Sompo International.

“We believe in developing and providing innovative, long-term insurance solutions for our clients,” Chiang said. “Our mission is to provide clients with the right insurance tools to mitigate their risks, allowing them to focus on growing their businesses. Furthermore, we are delighted to have the support of strategic allies, especially Markel. It is exciting to collaborate with industry specialists driven to be the best in the business, which will lead to mutual success.”

The firm will be based out of Portsmouth, New Hampshire.

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