GRAND CAYMAN, Cayman Islands, Dec. 1, 2014 (GLOBE NEWSWIRE) -- Advantage Property & Casualty Company SPC, the business insurance unit of Advantage Insurance Holdings Ltd. ("Advantage"), announced today the launch of a new reinsurance underwriting business to participate in the Lloyd's insurance market. As a corporate member of Lloyd's, Advantage will participate in syndicates insuring property, casualty, marine, motor, aviation and energy risks worldwide.
Simon Kilpatrick, head of Advantage's Business Insurance division, said, "We are excited to begin trading as a corporate member of Lloyd's and look forward to the unparalleled market access that Lloyd's offers. By underwriting at Lloyd's, Advantage and its affiliated captive insurance entities can participate in highly diversified portfolios of insured risks to complement their existing, more concentrated exposures."
Underwriting activity in the Lloyd's market will be conducted by Advantage DCP Ltd, a newly-formed subsidiary of Advantage Property & Casualty Company. Hampden Agencies Limited will provide Lloyd's advisory services to Advantage DCP, with corporate administration services provided by Nomina Plc. Hampden Agencies and Nomina are members of The Hampden Group ("Hampden"), a leading provider of specialty insurance services to corporate participants in the Lloyd's insurance market.
Advantage Insurance Holdings Ltd., through its operating subsidiaries, provides customized insurance products and services to businesses and individuals worldwide. Founded in 1993, today Advantage serves over 200 clients and administers over $1.1 billion of insurance assets from its headquarters in Grand Cayman and operating locations in Charleston, South Carolina; Hato Rey, Puerto Rico; and Scottsdale, Arizona. Advantage's primary lines of business include private placement life insurance, captive insurance management and alternative risk transfer services. Additional information is available on Advantage's website: www.aih.com.ky
The Hampden Group is a leading provider of specialist business support services to the insurance and finance sectors. Its subsidiary, Hampden Agencies Limited, has been advising high net worth individuals on membership of Lloyd's for over thirty years. Today it is the largest Members' Agent advising over 50% of the private capital trading at Lloyd's. Hampden clients collectively contribute £2 billion of underwriting capacity to the Lloyd's market which represents 7.5% of Lloyd's capacity as a whole. In recent years it has seen a growing interest in trading at Lloyd's from family offices and institutions with corporate capital. Additional information is available on Hampden's website: www.hampden.co.uk.
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Source:Advantage Insurance Holdings Ltd.