PZU Group enters the Lloyd's market by becoming an Argenta shareholder

The PZU Group became a shareholder of Argenta Syndicate Management Limited, one of Lloyd's syndicates belonging to the Argenta Holdings plc., thus being granted the "Member of Lloyd's" certificate.

Argenta Syndicate Management Limited is part of the Hannover Re owned Argenta Holdings and manages Lloyd's Syndicate 2121 which had a stamp capacity for 2017 of GBP 300 million. Syndicate 2121 focuses on short-tail property business and specialty lines. In the 2016 financial year Syndicate 2121 booked gross written premium of GBP 280 million.

"Argenta's activity profile in the areas of insurance for the energy sector and large assets is similar to the business profile of PZU on the corporate insurance market," a PZU news release of today states.

The "Member of Lloyd's" certificate obtained by the PZU Group guarantees the largest insurance companies' credibility on international markets as an additional rating. To obtain it, the PZU Group had to go through a detailed Lloyd's audit.

"PZU becomes a global player. The presence on Lloyd's market is not only prestige, but above all, access to international brokers and the opportunity to benefit from the knowledge of the world's best underwriter and risk engineers," said Roger HODGKISS, a member of the management board of PZU SA.

Much of the capital available on the Lloyd's market is provided on a subscription basis - Lloyd's insurers merge into syndicates, which in turn combine to insure different risks. Lloyd's has licenses to run insurance business in more than 70 countries and can take risks from over 200 countries and territories in accordance with local laws and regulations. The Lloyd's market includes over 60 groups of various insurance products. The gross insurance premium for 2016 amounted to GBP 29.9 billion and a profit of GBP 1.22 billion.

Related articles

MUNICH Re to pay out EUR 1.3 billion to shareholders

Reinsurer MUNICH Re announced The Annual General Meeting approved an unchanged dividend of EUR 8.60 per share to be paid out for the 2017 financial year. The overall dividend payout amounts to EUR 1.3 billion.

2018-04-26

SOMPO International got green light for its EU subsidiary

SOMPO International Holdings Ltd. (SI) announced on April 23 that it has received the regulatory approvals from the Ministry of Finance of Luxembourg to establish a new subsidiary, SI Insurance (Europe), SA (SIIE), which will become operational later in 2018.

2018-04-25

VIG Re, FY2017: Profit before tax up by 5% y-o-y

VIG Re reported for 2017, on consolidated basis, GWP of EUR 459.9 million, up by 10.2% y-o-y. Premium growth was driven by the Property & Casualty segment which grew by 13.0% to EUR 422.4 million. Main markets which account for growth were CEE and DACH.

2018-04-19

ON THE MOVE

TOP EVENT

Why should you participate at FIAR 2018?

With an exclusive list of professional speakers, 7 conferences and workshops analyzing current trends and issues on the re/insurance markets, as well as hundreds of bilateral meetings and networking opportunities, FIAR 2018 represents a key event on the business agenda.

25.04.2018

What re/insurance professionals are already on FIAR 2018's list of speakers?

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

19.04.2018

photodune-3834701-laughing-girl-xs

LIVE: Moscow, Russia: The XXII International Reinsurance Conference

The XXII International Reinsurance Conference has started today in Moscow, organized by Delovoy Format, with the support of the Russian Insurers Association. XPRIMM, the traditional Media Partner of the conference, has launched on the occasion the latest edition of its Insurance Profile Russia, providing for 2017 insurance statistical data.

11.04.2018

photodune-3834701-laughing-girl-xs

The 4th edition of the European Consumer Protection Conference: Main conclusions

The European Consumer Protection Conference, taking place on Thursday, 22 March, in Prague, brought into debate the consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services.

22.03.2018

See all