As well as sharing news and information, we also aim to tell you some stories through articles and insights which we hope will be of interest. We start with our own story and what we’ve achieved so far since we started our business in 2017.
As well as sharing news and information, we also aim to tell you some stories through articles and insights which we hope will be of interest. We start with our own story and what we’ve achieved so far since we started our business in 2017.
The business written at Lloyd’s is brought to the specialist syndicates, who price and underwrite risk, via brokers and coverholders.
Lloyd’s financial strength ratings are as follows:
Standard & Poor’s is ‘A+’ (strong)
AM. Best’A'(excellent)
What is coverholder
As an approved Lloyd’s Coverholder, we are authorized to write contracts of (re)insurance in accordance with the terms of our binding authority agreements on behlf of Lloyd’s Syndicates.
For more information on Lloyd’s of London, please click below:
How the Lloyd’s market works
With underwriting roots going back to 1922, Chaucer underwrites through both Lloyd’s and the companies market. In Lloyd’s, Chaucer has Syndicate 1084, which operates across international marine and non-marine markets, and Syndicate 1176, a market leading insurer of nuclear risk. In 2017, Chaucer opened Chaucer Insurance Company in Dublin Ireland to write international specialty business.
As a Lloyd’s insurer, Chaucer offers global reach and strength and are able to protect clients in over 200 countries and territories worldwide.
For more details on Chaucer visit : www.chaucerplc.com
Allied World is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World takes a cutting-edge approach to crafting products and services that meet the diverse requirements of their clients and enable them to respond to local needs. Allied World operates 20 offices around the world.
All of Allied World’s rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor’s, and A2 by Moody’s, and our Lloyd’s Syndicate 2232 is rated A+ by Standard & Poor’s and AA- (Very Strong) by Fitch.
For more details on Allied World visit www.awac.com
Asta is an approved Lloyd’s managing agent and its principal activity is the start-up and management of Lloyd’s syndicates. Asta currently manage 9 Lloyd’s syndicates and £1billion of capacity.
The Asta Advantage
As the leading third party managing agent at Lloyd’s, Asta has a strong track record in launching new underwriting businesses. AUML will provide infrastructure, management and regulatory reporting for its client MGAs and their capacity partners and can also provide working capital.
As a well established managing agency for multiple third party clients and syndicates, we have the expertise and knowledge as well as the infrastructure and resources to manage MGAs in a similar way. AUML will utilise Asta’s significant underwriting management and regulatory experience and capabilities.
Learn more about Asta : www.asta-uk.com
Hiscox is a leading specialist insurer, with roots dating back to 1901. Hiscox targets specific types of insurance in which they develop expertise, often focusing on areas other insurers find too complex to insure. By challenging convention in each specific market, Hiscox offers market leading products and services globally.
Hiscox also writes a range of insurance through the Lloyd’s of London insurance market.
For more information on Hiscox visit : www.hiscoxgroup.com
Ascot Group is one of the world’s pre-eminent specialty risk assumption organisations. They are a modern era company operating through an ecosystem of interconnected global operating platforms in London, Bermuda and the US, bound by a common mission and purpose.
Ascot Underwriting, the Managing Agency for Syndicate 1414 at Lloyd’s, has been one of the best performing Syndicates since the company was formed in 2001. It offers a broad range of property and casualty products, covering a wide range of sectors and industries including leading multinational companies. All policies written by Ascot Syndicate 1414 benefit from the financial strength ratings assigned to the Lloyd’s market which are A+ (Strong) from Standard & Poor’s, AA – (Strong) from Fitch and A (Excellent) from A.M. Best.
Patroklos Konstantinides is a qualified Actuary, with over 8 years professional experience in the region. He specialises in creating various data visualisations to manage portfolio performances, developing rating tools for both commercial and consumer lines of businesses, reserving, enterprise risk management and reinsurance capital modelling. He supports the team in formulating underwriting strategy, planning and tracking through data driven analytics and insights.
Prasad Fernando, a Chartered Insurer and qualified Life and Medical Underwriter from Assurance Medical Society, has more than 20 years professional experience of Consumer Lines underwriting and distribution with leading multi-national life and non-life insurers. He specialises in developing and managing frameworks for direct marketing, affinity and work site marketing, bancassurance business, travel insurance and E&M Commerce.
Prasad has been in region for more than 8 years and prior to joining Arma had managed one of the region’s largest and most profitable Consumer Lines book.
Sourav Dey, a Chartered Mechanical Engineer and Associate of Chartered Insurance Institute, London, has more than 17 years’ professional experience of managing the global portfolios of energy business lines.
Prior to joining Arma, Sourav had headed Energy and Engineering lines of business for the largest local companies in UAE and Qatar, and had demonstrated strong capabilities in building and managing portfolio above USD 100 Million.
Patrick Choffel brings 47 years of international insurance experience, spending the last 17 years in the MEASA region. He has held a number of senior executive positions worldwide during his tenure with AIG. His last position with the Group was Regional President for ALICO in Dubai, UAE. In 2011, Patrick was appointed CEO of the largest insurance player in the UAE, and since June 2015, he is serving as a Board Member for a number of (re)insurance players in the region.
Patrick has extensive experience in international expansion, both organic and inorganic, and in advising clients on growing / launching new operations in MENA.
Michael Rafter is an innovative insurance executive with more than 30 years of experience covering various senior roles across the globe, with 11 years based in the UAE. Formerly the Head of General Insurance at Oman Insurance Company, Michael has a long career in underwriting in the Middle East and other emerging markets, having previously held senior roles at AIG. His career has spanned all aspects of commercial and consumer lines through general management, underwriting, brokerage and reinsurance.
Michael is based in Arma’s offices in London.
Simon Norton is Chief Underwriting Officer at Asta.
Simon has worked in the London Market for over 30 years working in a number of senior underwriting and management positions, including Lloyd’s.
Throughout his career, Simon has gained extensive experience of managing underwriting portfolios, advising on clients’ strategy and helping them deliver their objectives.
Simon was appointed Chief Underwriting Officer in 2014 and is also a member of the board of Asta Capital Ltd.
Tyson is an experienced professional with more than 18 years exposure to underwriting Casualty & Professional lines. A market leader on Casualty lines of business with 10 years based in MENA region, specialised in underwriting and developing mid-market & corporate business across all industries including major infrastructure projects, construction, energy, retail/commercial, hospitality, manufacturing, trades & specialized industries. Prior to joining Arma, Tyson had been in lead Underwriting positions with both local & multi-national Insurers/Reinsurers in the UAE and Australia.