Enstar Group Ltd. unit StarStone has entered into a joint venture with Dubai-based managing general agent Malakite Underwriting Partners Ltd.
Malakite will target specialty business in the Middle East and North Africa region. It will offer multiclass insurance for energy, marine and property terrorism risks. Lloyd's Syndicate - 1301 (StarStone Underwriting Management Ltd.) will be Malakite's lead capacity provider and the remainder of the capacity will be supplied by other participating Lloyd's syndicates.
Malakite will be led by managing partner Giles Hussey, who joined from Swiss Re Corporate Solutions Ltd., where he served as head of Middle East and North Africa region.
Tim Fillingham, CEO of StarStone Insurance Services Ltd., and Simon Schnorr, StarStone's global head of marine, will join Malakite's board. Fillingham will serve as chairman and Schnorr will serve as a director on the board.