Asia: New Lloyd's consortium for excess layers on commercial property risks
Source: Asia Insurance Review | Sep 2015
The Asia Pacific Excess Consortium – a new Lloyd’s consortium – is an Excess of Loss facility led by Atrium and supported by Talbot, Argo, Amlin and Argenta on the Lloyd’s Asia platform. It has been formed to provide a convenient single insurance solution for excess layer placements on property risks in Asia Pacific.
It offers brokers a single point of contact for underwriting, premium payment and claims agreement, alleviating the need to deal with multiple reinsurers. The consortium offers up to US$25 million excess of loss capacity at up to 100% of excess layers.
The consortium will cover commercial light and moderate industrial property risks including processing, manufacturing, warehousing and retail located across Asia Pacific.
There are currently five consortiums in operation on the Lloyd’s Asia platform in Singapore: XIN Aerospace, XIN Terrorism, Terrorism, General Aviation and Construction.