Starr announces acquisition of IQUW Group
Starr has entered into a definitive agreement to acquire IQUW Group, a specialty insurance and reinsurance business.
IQUW has gross written premiums of approximately $1.9 billion and includes two Lloyd’s syndicates: IQUW, a specialty (re)insurer that operates across multiple specialty lines and ERS, the U.K.’s largest motor insurer at Lloyd’s, as well as IQUW Re Bermuda, its Bermuda-based reinsurance platform.
The acquisition of IQUW Group will expand the classes of business that Starr underwrites. Starr’s managing agency is set to become the ninth-largest agency operating at Lloyd’s following the acquisition.
Peter Bilsby, IQUW Group’s chief executive officer, will lead Starr’s international business, working closely with Stuart Scott, Starr’s president of U.K. and EME, and José Ribeiro, Starr’s president for APAC and LATAM.
The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions.
“This strategic acquisition of IQUW Group is about diversification and a focus on underwriting profitability, consistent with our own. The combination of our companies will give us a larger footprint in the London market and result in a stronger organization. We have known and respected Pete Bilsby for a number of years. He has built an exceptional team, and I am delighted that he will lead our international business.” – Jeff Greenberg, chairman and co-chief executive officer of Starr.
“Through this transaction, we are significantly expanding our presence in Bermuda, U.K. retail motor, and London wholesale, the most important wholesale market globally. With limited overlap between the two organizations, the addition of IQUW Group means we will be able to serve more clients and brokers in more specialist classes and market segments.” – Steve Blakey, president and chief executive officer of Starr Insurance Holdings.
“I cannot think of a better new home for IQUW Group than with Starr. When we launched IQUW, our vision was to bring together market-leading talent with technology and data analytics to enhance service and decision-making for our brokers and (re)insureds. I am very grateful for Aquiline’s and Abry’s support over the years, and I am immensely proud that we have delivered on our vision. 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. I am incredibly excited for this next chapter and what we can achieve together.” – Peter Bilsby, chief executive officer of IQUW Group.
