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Aviva launches US specialty unit to start underwriting commercial property
Aviva Specialty, a New York-based wholly owned surplus carrier, will initially underwrite commercial property for open-market brokers and program administrators.
Aviva said it is entering the U.S. specialty insurance market through a new unit, Aviva Specialty, which will begin underwriting commercial property starting this quarter, Insurance Journal reports.
Aviva Specialty will serve open-market brokerage, working with partnering program administrators, and will write business on Aviva Insurance Limited paper as a wholly owned surplus carrier.
The company said the unit, based in New York, will start with commercial property but plans to expand into additional lines including cyber, specialty and financial lines, as well as specialty casualty.
In remarks carried by Insurance Journal, Aviva Specialty president Mike Karmilowicz said the unit combines a specialty insurance team with a purpose-built platform designed to support responsive underwriting and consistent execution for brokers, clients, and program partners.