IQUW

What IQUW does

IQUW Group is a specialty insurance and reinsurance business that writes business through two Lloyd's syndicates — Syndicate 1856 (specialty carrier) and Syndicate 218 (ERS, the UK's largest motor insurer at Lloyd's) — together with a Bermudian reinsurance platform, IQUW Re Bermuda. The firm underwrites complex and emerging risks across terrorism, political violence, SRCC (strikes, riots, and civil commotion), property, marine, energy, aviation, professional lines, and UK retail motor, serving global clients through the Lloyd's broker distribution channel. IQUW also sells D&O, financial institutions, and cyber covers, plus a ports and terminals product launched in 2025.

The company operates a data-driven underwriting model, evidenced by its proprietary probabilistic crowd modelling tool used for SRCC risk assessment and accumulation management. IQUW generated $1.88 billion in gross written premiums in 2025, up from $1.1 billion in 2024 (a 22% increase), reflecting rapid scale expansion since founding in 2021. In October 2025, Starr Companies announced its acquisition of IQUW Group, which completed in March 2026; IQUW's reinsurance operations now trade as Starr Re, while ERS retains its brand in UK retail motor. The combined entity ranks ninth at Lloyd's by managing agency capacity.

IQUW is headquartered in London at 30 Fenchurch Street, with a registered Bermuda office and 51–100 employees. The firm is regulated by the FCA and PRA (FRN 204851) and, prior to the Starr acquisition, raised $170 million in debt financing in March 2025 backed by Hudson Structured and Kilter Finance to support portfolio expansion.

Name

IQUW

Legal name

IQUW Group Limited

Website

https://iquw.com

Company type

Private

Founded year

2021

Operating status

Acquired

Headcount range

51–100 employees

Short description

IQUW Group is a London-based specialty insurance and reinsurance carrier writing through two Lloyd's syndicates (1856 and ERS) and IQUW Re Bermuda, serving global specialty risks and UK retail motor; acquired by Starr in March 2026.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Gross Written Premiums (Insurance Underwriting): IQUW generates revenue primarily through insurance underwriting, writing specialty insurance and reinsurance premiums across multiple lines including terrorism, political violence, property, marine, energy, aviation, and professional lines. The company reported $1.88 billion in gross written premium in 2025 and $1.1 billion in 2024.

Go-to-market motion2 records

Distribution channels3 records

Core offering

IQUW is a specialty insurance and reinsurance business operating through Lloyd's syndicates 218 and 1856 in London, with a Bermudian reinsurance platform (IQUW Re Bermuda) and the ERS brand for UK retail motor insurance. The firm underwrites complex specialty risks across terrorism, political violence, SRCC, property, marine, energy, aviation, and professional lines, using proprietary data-driven underwriting and risk modelling tools.

Product overview

IQUW is a specialty insurance and reinsurance business comprising two Lloyd's syndicates (Syndicate 1856 and ERS), a Bermudian reinsurance platform (IQUW Re Bermuda), and specialty product lines including SRCC coverage, D&O, financial institutions, cyber, and ports & terminals insurance. The company operates across London, Bermuda, and UK retail motor markets, providing data-driven underwriting capabilities for specialty risks.

Differentiator

Problem solved

Functional benefit

Brands

• ERS: UK's largest motor insurer at Lloyd's, operating as part of the IQUW Group and now Starr's UK retail motor business.

Products and services

• IQUW Syndicate 1856 (Specialty Insurance) Lloyd's syndicate offering specialty insurance products including reinsurance, property, marine, energy, aviation, terrorism, political violence, and professional lines for global enterprise clients.
• ERS (UK Retail Motor Insurance) UK retail motor insurance brand and the largest motor insurer at Lloyd's, operating as part of IQUW Group's UK operations for UK consumer motor insurance customers.
• IQUW Re Bermuda (Bermudian Reinsurance Platform) Bermudian reinsurance platform providing specialty reinsurance capacity, now rebranded as Starr Re following Starr's acquisition of IQUW.
• SRCC Coverage Strikes, riots, and civil commotion insurance coverage enhanced by IQUW's proprietary probabilistic crowd modelling tool for risk assessment and accumulation management.
• D&O, Financial Institutions and Cyber Insurance Directors and officers liability, financial institutions, and cyber insurance products extended to the Bermuda market.
• Ports and Terminals Insurance Insurance product covering ports and terminals operations, launched for the London market and Bermuda operations.

Quantifiable outcome

• 22% increase in gross written premiums in 2024, reaching US$1.1 billion
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature1 record

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Beazley: Beazley is a Lloyd's-listed specialty insurer writing many of the same lines as IQUW including marine, energy, aviation, political risks, and cyber. Its scale, Lloyd's platform, and specialty focus make it the closest direct comparable to IQUW's Syndicate 1856 portfolio.
• Hiscox: Hiscox is a London-listed specialty insurer with material Lloyd's presence writing professional lines, D&O, cyber, and specialty P&C, overlapping with several of IQUW's product lines and its Lloyd's distribution channel.
• Lancashire Holdings: Lancashire is a Bermuda- and London-listed specialty re/insurer focused on property, energy, marine, and aviation, with a Lloyd's platform through Cathedral. Its specialty lines and Bermuda presence mirror IQUW Re Bermuda and Syndicate 1856's specialty mix.
• Canopius Group: Canopius is a Lloyd's-focused specialty re/insurer offering P&C, marine, energy, and aviation lines through multiple syndicates, directly comparable in business model, syndicate structure, and line-of-business mix to IQUW's Lloyd's operations.
• Aspen Insurance: Aspen underwrites specialty P&C, marine, energy, and aviation from Lloyd's and Bermuda platforms, making it directly comparable in geographic footprint and specialty underwriting appetite to IQUW's London and Bermuda operations.
• Munich Re Specialty: Munich Re Specialty is a global specialty re/insurer with strong terrorism, political violence, and specialty P&C franchises, and was the previous employer of IQUW's senior terrorism underwriter. Its London specialty operations compete head-to-head with IQUW.
• Liberty Specialty Markets: Liberty Specialty Markets is the London and Bermuda specialty arm of Liberty Mutual, writing P&C, marine, energy, aviation, and political risks through Lloyd's and Bermuda platforms with comparable product breadth to IQUW.
• Convex Group: Convex is a Bermuda- and London-domiciled specialty re/insurer writing property, marine, energy, and aviation risks, with a similar mix of Bermuda reinsurance and Lloyd's specialty underwriting to IQUW's combined platform.
• Markel International: Markel International writes specialty P&C, marine, energy, professional lines, and political risks through Lloyd's and other platforms, overlapping with IQUW's specialty portfolio and Lloyd's syndicate-based distribution model.

Broad incumbents

• AXA XL: AXA XL is a large global specialty re/insurer with significant Lloyd's and Bermuda operations writing P&C, marine, energy, aviation, and political risks. As a broad incumbent with substantially greater scale, it overlaps with most of IQUW's specialty lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/iquw
• Instagraminstagram.com/starrinsurance
• Xx.com/iquw1856

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IQUW