Rokstone launches global marine cargo facility

Rokstone launches global marine cargo facility | Insurance Business

Rokstone launches global marine cargo facility

Rokstone, the international specialty reinsurance MGA unit of Aventum Group, has announced the launch of a new, $18 million global facultative general marine cargo facility, backed by A-rated carriers.

The launch continues the growth of Rokstone’s geographic and digital presence and the diversification of its specialty product range. The facility includes $5 million for niche selective cargo treaties. The MGA will also be launching additional direct wholesale capacity in the next few weeks.

Robert Birchard, an industry veteran with 43 years of experience at Lloyd’s, has joined Rokstone as a cargo underwriter to lead and grow the marine division.

Birchard began his career in 1978 at the Sturge Syndicates in Lloyd’s. He later served as a Lloyd’s broker and a cargo underwriter on the XL Syndicate before taking a position as senior cargo and specie underwriter for Sirius International. More recently, he has written cargo and specie at Starstone, Argenta and K2 International.

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“I’m thrilled to be joining the Aventum family,” Birchard said. “It is a group that has achieved incredible growth over the last few years and appears to have unfathomable ambition, and I’m genuinely excited to be a part of that roadmap.

“Marine cargo is a sustainable class that has seen incredible rate rises and adjustments to terms during this hard market. Compared to any previous hard markets – even post-9/11 – I’ve not seen rate rises like this before. Now is certainly the best time in 20 years to write cargo business.”

Rokstone is one of the world’s largest MGAs, with offices in the UK, Europe, the US, Asia, Africa and the Middle East. It underwrites $500 million in gross written premium across several specialty lines, including marine, terrorism and political violence, direct and facultative property, treaty property, construction and engineering, and liability.