Amiga Specialty, a specialist managing general agent (MGA), has secured £/$25 million of “A rated” Lloyd’s capacity with global licensing for its Yachts division, marking an important step in the development of its specialist marine offering.
The newly secured capacity will bolster Amiga Specialty’s ability to underwrite complex yacht risks on a global scale.
While the division will underwrite yacht risks globally, its focus will be on the US, Southeast Asian and European markets.
Southeast Asia is expected to be a key market for the business following the recent launch of Amiga’s Hong Kong office, the firm noted.
To ensure seamless regional development, Jason Stephenson, Managing Director – Yachts, will split his time between the corporate headquarters and Hong Kong during key trading periods throughout the year.
Thanks to the strong capabilities of Stephenson and the Amiga Yacht team, the division was able to gain access to highly-rated Lloyd’s capacity quickly and efficiently, according to the announcement.
Stephenson commented: “Securing Lloyd’s capacity is an exciting and important milestone for our Yachts business. It provides us a strong platform from which to support brokers and clients internationally, backed by exceptional capacity and a specialist underwriting proposition.
“With Amiga Specialty’s growing presence in Hong Kong, we are well positioned to deliver responsive, targeted solutions across these important markets.”
