Where tradition meets innovation in the world of insurance.
Multi-Line Expertise. Disciplined Underwriting.
Clearwater Underwriting has a leading position in marine and subsea cable insurance supported by its data-driven underwriting model and strong capacity partnerships.
The business brings deep underwriting expertise, strong broker relationships, and a disciplined approach to risk selection to every class it writes.
Building on this foundation, Clearwater Underwriting is expanding across a broader range of specialty and niche classes.
This multi-line strategy allows us to support brokers and clients with consistent underwriting quality across a wider portfolio of specialty risks.
Professional Underwriting Services, backed by first-class security
All our security providers are rated 'A' (excellent) by AM Best.
Our underwriting is supported by binding authorities from Lloyd’s syndicates and leading company market insurers, ensuring every risk we write is backed by strong, internationally recognised security. Our carrier partners share our vision of a multi-line MGA focused on delivering meaningful value to the insurance market.
In 2025, we partnered with Aquiline, a global private investment firm specialising in financial services and technology with deep roots in the insurance industry.
Management Team
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Chief Underwriting Officer
richard@cw-uw.com
Richard brings over 30 years of insurance experience, including 27 years within the Lloyd’s of London market. Most recently, he served as Head of Hull & War at Beazley, where he was responsible for strategic underwriting direction, portfolio performance, and broker relationship management within a highly specialised global class of business.Although marine remains his core discipline and professional passion, Richard has developed broad underwriting expertise across multiple lines, including Marine Hull & War, Marine Excess of Loss, Cargo, General Aviation, Offshore Energy, and Terrorism & Political Violence. His cross-class experience provides him with a comprehensive understanding of interconnected global risk exposures and portfolio diversification strategies.
Richard is recognised for his disciplined underwriting approach, deep market relationships, and ability to navigate complex geopolitical and maritime risk environments.
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Chief Operating Officer
swati@cw-uw.com
Swati has over 20 years’ experience in the London Market, combining deep operational expertise with strategic leadership across both broking and underwriting environments.She spent 17 years at Tysers, where she developed extensive knowledge of marine insurance and the Lloyd’s and company market ecosystem. She later served as Head of Operations at IQUW, leading initiatives to improve operational efficiency, governance, and scalable infrastructure to support underwriting growth.
Swati has a strong interest in the application of technology within insurance, with a focus on data-driven operations, automation, and the use of advanced analytics and AI to improve transparency, streamline processes, and enhance risk decision-making.
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Head of Operations
georgia@cw-uw.comGeorgia began her career in the London Market as an Underwriting Assistant within the Casualty division at Hiscox, where she developed a strong foundation in underwriting processes and policy administration.
Driven by a natural aptitude for problem solving and process optimisation, she progressed into a supervisory role overseeing central operations across all divisions of the syndicate. In this capacity, she focused on improving workflow efficiency, enhancing governance standards, and strengthening operational controls.
Georgia later joined IQUW as Operations Manager, where she continued to lead initiatives aimed at improving underwriting efficiency across multiple classes of business. She is passionate about automation, data integrity, and delivering high-quality management information that enables teams to visualise performance, plan effectively, and make informed strategic decisions. Her approach combines analytical rigour with a practical understanding of underwriting operations.
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Chief Financial Officer
sam@cw-uw.comSam began his career at PwC, qualifying as a Chartered Accountant (ACA) in 2010. He subsequently joined PwC’s Financial Services Deals team, where he specialised in transaction services for insurance and investment management clients, advising on acquisitions, disposals, and capital structuring.
He later moved into a corporate finance role at Pacific Investments, a diversified fund management group. There, he was responsible for deal origination, transaction execution, and portfolio oversight across real estate and financial services investments.
Most recently, Sam served as Chief Financial Officer of a London-based insurance technology business operating at the intersection of data and digital distribution. In this role, he led financial strategy, capital management, governance, and investor engagement, while supporting the development of technology-driven tools designed to empower intermediaries in risk management and product distribution.
Sam is committed to driving innovation within the insurance sector. He combines financial discipline with entrepreneurial ambition and is focused on supporting scalable growth, digital transformation, and the development of a leading global specialty MGA platform.
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Executive Chairman
toby.drysdale@cw-uw.com
Toby has nearly 34 years of experience in the London insurance market, including 32 years at Atrium Underwriters Ltd / Syndicate 609. He joined the business early in his career and progressed through a series of increasingly senior underwriting and leadership roles.He served on the Board of Atrium from 2008 to 2022 and was Active Underwriter of Syndicate 609 from 2016 to 2022, with ultimate responsibility for underwriting performance, capital deployment, governance, and strategic direction across a diverse portfolio of classes. Most recently, he held the position of Syndicate Underwriting Reviewer, providing independent oversight and challenge across underwriting activities.
Throughout his career, Toby has underwritten a broad range of classes including Marine & Energy Liability, Marine Hull & War, Aviation All Risks & War, Property Treaty, and Bloodstock. As Active Underwriter, he also oversaw a wider portfolio spanning Property, Casualty, and Reinsurance lines.
He brings extensive leadership experience, deep technical knowledge, and a strong understanding of syndicate governance and capital management. Toby is motivated by the opportunity to contribute his experience within an entrepreneurial and focused environment, supporting Clearwater’s strategic growth and long-term ambitions.
Get in touch
Contact us to discuss your clients’ requirements and our team will tailor a tech-driven underwriting solution specifically for you and your clients.