London insurer acquires medical malpractice business

Marketform Managing Agency Ltd., London, said Thursday that it has sold its U.K. open market medical malpractice and U.K./international delegated authority insurance businesses to Beazley P.L.C.

The team is led by Alex Wakeley and consists of underwriting and claims staff. They will join Beazley's specialty lines team in London, and Beazley will also assume claims handling responsibility for related policies issued by Marketform.

The company will no longer underwrite medical malpractice insurance, Marketform said in a statement.

“While medical malpractice liability has been an important part of Marketform's history, it is no longer aligned with our strategic vision for the business,” Marketform CEO Martin Reith said in the statement.