Starr, a worldwide investment and insurance company, has agreed to buy IQUW Group, a specialty insurance and reinsurance firm that uses data and analytics alongside underwriting skills. The deal, which is still pending regulatory approval, is expected to close in the first half of 2026.
Though financial details were not shared, this acquisition will help Starr broaden the kinds of insurance it offers and reach more markets around the world. Starr’s managing agency will also become the ninth-largest at Lloyd’s of London, a key global insurance market, thanks to this deal.
IQUW Group brings about $1.9 billion in gross written premiums to the table. It includes two Lloyd’s syndicates: IQUW, which covers multiple specialty insurance lines, and ERS, the biggest motor insurer at Lloyd’s in the UK. There’s also IQUW Re Bermuda, a reinsurance business based in Bermuda.
After the deal closes, Peter Bilsby, currently IQUW’s CEO, will lead Starr’s international business. He will team up with other senior leaders across the UK, Europe, Asia-Pacific, and Latin America to grow Starr’s global presence.
Starr’s President and CEO, Steve Blakey, said the acquisition will boost their footprint in Bermuda, UK motor insurance, and the London wholesale insurance market. With little overlap between the two companies, Starr will be able to offer more specialized products to a wider range of clients and brokers.
Bilsby shared that IQUW’s original mission focused on combining strong talent with technology and data analytics to serve customers better. Joining Starr will help them expand their specialist offerings and technology capabilities on a larger scale.
Until the acquisition closes, both Starr and IQUW will operate separately. BofA Securities and Skadden, Arps, Slate, Meagher and Flom LLP advised Starr on the deal, while Evercore Partners, J.P. Morgan Securities, and Norton Rose Fulbright LLP advised IQUW.
This move marks a significant step for both companies, as they work toward building a more diversified and stronger presence in the insurance market worldwide.