WTW has introduced a new property facility in partnership with Canopius and Verita, with a limit of up to US$25 million.
Canopius is set to lead the Client Edge Facility, underwritten on its US excess and surplus lines paper and offering coverage for large and complex risks in the middle market across WTW’s US property portfolio.
In addition, Verita Capital Solutions will enable WTW to continue to expand the facility with additional property capacity, aligned with expansion into other lines of business.
Lisa Davis, CEO, US and Bermuda, Canopius, comments: “Listening to the needs of clients was the driving force behind the development of the Client Edge Facility, an innovative property solution.
“Leading this new property facility is the latest example of our rapidly expanding suite of capabilities in the US, serving as another proof point aligned with our ambitions for strategic growth.”
Jackie Bolig, head of P&C, Corporate Risk and Broking in North America at WTW, adds: “The development of the Client Edge Facility was the result of extensive collaboration and commitment of WTW, Verita and Canopius to develop a new solution aimed at providing needed property capacity for clients, in an efficient manner.”
Meanwhile, Edward Chiang, president and CEO of Verita, highlights: “Managing
this new facility represents a key milestone for the Verita Capital Solutions division, highlighting our team’s expertise and the ability to pivot and execute on a large portfolio solution like the Client Edge Facility.”
