Starr has signed an agreement to acquire IQUW Group, which comprises two Lloyd’s syndicates: IQUW, a specialty re/insurer and ERS, the biggest motor insurer in Lloyd’s.

Following the completion of the transaction, which is expected in the first half of 2026 and is subject to regulatory approvals, Peter Bilsby, chief executive officer of IQUW Group, will lead Starr’s international business.

Steve Blakey, president and chief executive officer of Starr Insurance Holdings, said: “Through this transaction, we are significantly expanding our presence in Bermuda, UK retail motor, and London wholesale, the most important wholesale market globally.

“With limited overlap between the two organisations, the addition of IQUW Group means we will be able to serve more clients and brokers in more specialist classes and market segments.”

Bilsby added: “Being part of Starr will enable us to scale up our specialist products, and our tech and data capabilities will be of benefit to the wider Starr group.”

IQUW Group controls gross written premiums of approximately £1.4bn.