Monday, February 11, 2013

ACE launches new energy book at Lloyd's

7 February 2013 |By Newsdesk

Insurer will write global offshore and onshore risks

ACE group is started writing energy business by syndicate 2488 at Lloyd's of London.

ACE will write global offshore and onshore risks, with the exception of North America. The new Lloyd's offer will complement existing Aces energy portfolio, which is written in the London company market and around the world. The initiative is part of the ACEs expansion in this sector, particularly in the oil and gas industry markets.

ACE global markets President and syndicate 2488 active underwriter Matthew Shaw said: "ACE is one of the few truly global players, and one of the largest providers of capacity in the energy market.

"To add the Lloyd's platform can we of Lloyd's brokers offer a comprehensive solution to customers with large, complex and multinational risks. It also gives us access to new markets that can benefit from our insurance skills and specialist technical teams. "

ACE's global energy take over manager Mairead Dawson said: "an enormous amount of energy infrastructure projects have been recently took off. The sheer volume of energy risks, particularly in emerging markets in South America, Asia and West Africa, has led to a need for new expertise and capacity. Our robust underwriting platform and the power of the global Lloyd's franchise brings us the opportunity to lead and innovate in these carefully selected markets. "

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