NEW YORK, September 3, 2024 – WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, today announced the introduction of 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 (CRB NA), Canopius US Insurance, Inc., and Verita Capital Solutions. The new facility will be led by Canopius, underwritten on its U.S. Excess & Surplus (E&S) 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 U.S. property portfolio. This Canopius-led facility provides additional property capacity with a specialized premium discount. Client Edge Facility enables WTW to efficiently deliver additional property capacity to clients with a limit of up to $25 million USD. 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.
“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.”
Jackie Bolig | Head of Property & Casualty, CRB NA, WTW
Lisa Davis, Chief Executive Officer, U.S. and Bermuda, Canopius, commented, ”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.”
Jackie Bolig, Head of Property & Casualty, CRB NA, WTW, added, “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.”
Edward Chiang, Chief Executive Officer, Verita CSG, Inc., commented, “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.”
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
Canopius is a global specialty (re)insurer with underwriting operations in Australia, Bermuda, Singapore, the UK and U.S. It underwrites through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), a US surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer. For more information, visit canopius or canopius Group.
Verita CSG, Inc. (d/b/a Verita CSG Insurance Services, Inc. in the States of California and New York) (“Verita”) is a general agent with its principal place of business in Portsmouth, New Hampshire (CA license #: 0660690). Verita underwrites insurance business on behalf of certain non-affiliated insurance companies subject to pre-approved underwriting guidelines. Verita is licensed as a property, casualty insurance agency in all states in which products are offered. Availability and qualification for coverage, terms, rates and discounts may vary by jurisdiction. Policy obligations are the sole responsibility of the issuing insurance carrier. Coverage under any insurance policy is subject to the terms and conditions of that policy and is ultimately the decision of the buyer. Verita receives commission and/or additional compensation from its insurance company partners in connection with its sale of insurance to you.
