Brit transfers US cargo renewal rights to Falvey

Brit Global Specialty USA, a unit of Brit Ltd., will transfer the renewal rights for its cargo business to Falvey Cargo Underwriting effective July 2.

In a statement Monday, North Kingstown, Rhode Island-based Falvey Insurance Group said that Brit underwriters Will Frohne and Yasu Saegusa will also join Falvey Cargo, increasing the unit’s underwriting staff to 13.

Mr. Frohne, who will be based in Long Island, New York, was previously senior vice president, marine, responsible for building out Brit’s presence in the U.S. cargo market.

Mr. Saegusa, based in Los Angeles, was most recently vice president, marine, at Brit where he focused on developing its cargo book on the West Coast and supporting growth of the national cargo portfolio.

“Brit believes Falvey is a better strategic fit for its cargo business, as it continues to focus its growth around core products,” Falvey said in the statement.