Westfield Specialty expands into company market

Westfield Specialty International has expanded its business from a Lloyd’s-only vehicle into the company market.

The specialty insurance carrier will launch a Luxembourg subsidiary and use this platform to underwrite risks on company paper alongside its existing capacity within Syndicate 1200 at Lloyd’s.

The Luxembourg company is expected to write new business from April 2026.

Since its establishment in 2021, Westfield Specialty, which operates in the US, UK and Dubai, expects its annual gross written premium (GWP) to reach $2bn (£1.49bn) globally in 2025.

Investing for the ‘long-term’

Westfield Specialty are expected to appoint a chief executive to lead the new company market operation in the coming months.

This follows Anthony Baldwin’s appointment as president at Westfield Specialty in November this year, which saw him take responsibility for all business outside of the US. 

Commenting on the expansion into the company market, Jack Kuhn, global president at Westfield Specialty, said: “Westfield Specialty’s strategic focus is on long-term, sustainable growth, aided by the build-out of our operation in European markets.

“As a mutual-owned specialty insurer, we can take a multiyear view on growth and invest for the long-term in building a successful addition to our specialty underwriting capacity.”