Marsh has increased the capacity of its Fast Track facility and says from next month, clients can access up to 10% automatic capacity across property and casualty portfolios, and specialty risks.

The facility, launched in April 2023, is led by QBE and backed by Lloyd’s syndicates Canopius, Arch and Beazley.

Fast Track has so far facilitated more than 15,000 policies worldwide, and bound premium is projected to pass $US1 billion ($1.57 billion) this year.

Global head of placement John Donnelly says the new capacity is “a significant milestone”. 

“Fast Track has quickly established itself as a market-leading global facility, which is built to sustain dynamic market conditions and deliver exceptional value to our clients around the world,” he said.

“The addition of the new capacity means our clients can achieve more optimal placement outcomes.”

The company says Fast Track is accessible to clients through any Marsh office worldwide and is the only major broker facility of its kind. It does not require London placement.

It says the “follow form” structure means all client placements follow the same terms as the lead underwriter, including claims decisions, and it features an automatic 2.5% client premium discount.