WTW, Canopius and Verita launch property facility
WTW is introducing a new property facility with Canopius. This exclusive property option, Client Edge Facility, is now available in the market and was developed by a consortium of industry leaders from WTW Corporate Risk and Broking, North America, Canopius US Insurance, Inc., and Verita Capital Solutions. The new facility will be led by Canopius, underwritten on its US Excess & Surplus paper.
Client Edge Facility is designed to provide coverage for large and complex risks, along with middle market property risks for shared and layered programs across WTW’s US property portfolio. This Canopius-led facility provides additional property capacity with a specialized premium discount. Client Edge Facility enables WTW to deliver additional property capacity to clients with a limit of up to $25 million. In addition, Verita Capital Solutions’ extensive capabilities will enable WTW to continue to expand Client Edge Facility with additional property capacity, aligned with expansion into other lines of business. This is an important step to delivering innovative solutions to WTW’s clients, with CRB NA steadfast commitment to driving pioneering solutions for clients across all industries and product lines.
“Listening to the needs of clients was the driving force behind the development of Client Edge Facility, an innovative property solution. Being able to address evolving client demands in a nimble way such as this is core to how we do business. Leading this new property facility is the latest example of our rapidly expanding suite of capabilities in the U.S., serving as another proof point aligned with our ambitions for strategic growth. I am delighted to partner with WTW and Verita Capital Solutions to bring Client Edge Facility to market.” – Lisa Davis, Chief Executive Officer, U.S. and Bermuda, Canopius.
“The development of 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. We are excited about expanding Client Edge Facility as the market demands.” – Jackie Bolig, Head of Property & Casualty, CRB NA, WTW.
“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 Client Edge Facility. Verita will continue to introduce new, innovative insurance solutions to clients, brokers and capacity partners. I am pleased to partner with WTW and Canopius in launching Client Edge Facility.” – Edward Chiang, Chief Executive Officer, Verita CSG.
