Lloyd’s syndicate AEGIS London announced the creation of a new Portfolio Solutions division that will focus on following third-party underwriting expertise in the London market.
Led by respected underwriter Richard Palengat, Portfolio Solutions will allow AEGIS London to engage with brokers in a broader range of ways while writing a diverse portfolio of follow business. This includes broker facilities, MGAs, reinsurance and Lloyd’s consortia. The team also includes underwriters Henry Watts and Barry Plummer and Assistant Underwriter Bradley Lawrence.
“AEGIS London Portfolio Solutions has a dynamic and empowering mandate. It encompasses a diverse range of business lines and geographies, including property, casualty, specialty and multi-line business,” commented Palengat, in a statement.
“We are aiming to establish enduring partnerships with parties that demonstrate a record of consistent outperformance against their peers across the market cycle, based on a data-driven and analytics-focussed underwriting approach,” he added.
“With the launch of Portfolio Solutions, we’re embracing the future and ensuring we are best positioned to capitalise on the market as we see it evolving over the next decade,” according to AEGIS London’s CEO Alex Powell.
Powell said AEGIS London is adapting to new ways of trading while continuing to underwrite complex business from Lloyd’s. “As always, our new offering is backed by skilled underwriting teams and long-term commitment to classes.”
From January 2025, AEGIS London’s underwriting divisional structure reflects the way in which business is increasingly accessed and traded rather than purely focused on product types as previously.
Portfolio Solutions sits alongside the Specialist Underwriting division, which consists of market-leading underwriting teams in areas of AEGIS London’s greatest expertise, AEGIS London said. Its existing Digital Trading team, which incorporates AEGIS London’s OPAL quote-and-bind platform, now also becomes a division and is expanding its digital follow capabilities.
“Underwriting expertise is at the heart of our consistent profitability, so with our recent changes we are enshrining those capabilities in a wider range of trading options,” said Matt Yeldham, AEGIS London’s chief underwriting officer.
“We are ready to respond to business through a broader range of routes and engage with brokers in a clear and more agile manner. This builds on the series of adjustments to our business we have made over the last few years, including building our data capabilities and re-engineering many of our systems,” Yeldham added.
AEGIS London operates Lloyd’s Syndicate 1225 and comprises the UK-based subsidiaries of AEGIS (Associated Electric & Gas Insurance Services Limited), a mutual insurance company that serves the needs of the North American energy industry. From its origins in 1999, AEGIS London has become a top quartile diversified Lloyd’s syndicate with a team of over 230 people. For more than 11 years, AEGIS London has consistently been ranked in the top quartile of Lloyd’s syndicates for financial performance, the company said.
Topics
Excess Surplus
Lloyd’s
London
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