ASU underwriters cancel planned move to commercial start-up

Oxygen Insurance Managers is looking for a new event contingency team after ASU International's Chris Rackcliffe and his team decided not to join the general insurance start-up.

Oxygen announced in March that Rackcliffe, plus Mark Symons and Christian Philips, would join to develop the underwriting agency's move into the sports and leisure sector. The team is recognised as one of the leading event cancellation insurance specialists.

Oxygen head of operations Sian Fisher said: "It is a real shame that Chris and his team have decided not to join us. They want to remain with a main carrier rather than manage a consortium."

ASU International is a subsidiary of HCC Insurance Holdings.

The news comes after Oxygen announ-ced it was boosting its commercial package to corporate clients by bringing two life underwriters on to its team.

Nick Allen and Duncan Mitchell, who were active underwriter and assistant underwriter respectively at Wren Life Syndicate 389 at Lloyd's, will offer general insurance brokers the option of looking at life products as an add-on to the full commercial packages to major corporate clients

Allen said: "General insurance brokers and accident and health brokers would normally have to deal separately with life insurers if they need to cover company employees. We allow them to deal with just one insurer now."

Mitchell said that Oxygen was already talking to one major broker as a client which wished to cover its staff worldwide.