Managing general agent Clearwater Underwriting, which focuses on marine and subsea cable insurance, is set to expand its proposition into the upstream energy market. Richard Hooks has joined the business from Tokio Marine Kiln to lead the new division.

Clearwater Underwriting is an appointed representative of Pro MGA Solutions Limited. It currently writes the following lines: marine hull and associated risk, marine war and subsea cables. It has binding authority agreements with both Lloyd’s syndicates and company market insurers.

Richard Young, chief underwriting officer at Clearwater Underwriting, said: “Upstream Energy is a market where technical expertise and underwriting judgement are particularly important, given the complexity and scale of the risks involved.

“Richard brings decades of experience across energy and marine, together with a detailed understanding of how this market is changing.”

Hooks added: “It’s a rare opportunity to build a business from the ground up within an ambitious underwriting platform, and I am delighted to be joining the team.”