Starr Insurance has announced an agreement to acquire IQUW Group, a move that will significantly enhance its underwriting capabilities and strengthen its footprint across major international insurance hubs.
Upon completion of the deal, Starr’s managing agency will become the ninth-largest at Lloyd’s, marking a major step in the company’s long-term strategy to deepen its presence in the London market.
IQUW Group currently writes approximately $1.9 billion in gross premiums and operates through two Lloyd’s syndicates: IQUW, a specialty re/insurer active across multiple lines, and ERS, the UK’s largest motor insurer at Lloyd’s. The group also includes IQUW Re Bermuda, its reinsurance arm.
The acquisition will bring together Starr’s global specialty insurance and reinsurance operations with IQUW’s established Lloyd’s platform, creating one of the most diversified and well-capitalized businesses in the global market.
Beyond Lloyd’s, Starr provides commercial non-life insurance across more than 170 countries on six continents. The transaction is expected to deepen the company’s reach in Bermuda, UK retail motor, and London wholesale—three areas identified as strategic growth priorities for the group.
Following the completion of the deal, Peter Bilsby, chief executive officer of IQUW Group, will assume a new role leading Starr’s international business, working alongside Stuart Scott, president of UK and EME, and José Ribeiro, president for APAC and LATAM.
Steve Blakey, president and CEO of Starr Insurance Holdings, described the transaction as a “significant expansion in Bermuda, UK retail motor, and London wholesale—the most important wholesale market globally.” He emphasized that the combination of Starr and IQUW brings minimal overlap and strong complementarity, allowing the firm to reach new clients in specialist classes.
The deal, which is being advised by BofA Securities for Starr and Evercore Partners International LLP and J.P. Morgan Securities for IQUW, is expected to close in the first half of 2026, subject to regulatory approvals. Both companies will continue to operate independently until then.
This acquisition highlights the continuing consolidation and strategic repositioning within the Lloyd’s market, as scale, diversification, and advanced data capabilities increasingly define competitiveness among leading global re/insurers.
