London-domiciled specialist insurance and reinsurance managing general agent (MGA), Athena Re, has received approval to serve as a Lloyd’s Coverholder.
The MGA explained that this marks a significant milestone, aligning with its long-term growth plan to bring highly rated global insurance capacity closer to high-growth emerging markets.
As a Lloyd’s Coverholder, Athena Re will operate a flagship cyber insurance binder backed by A+ rated Lloyd’s capacity.
The solution caters to specialist cyber risk to meet the evolving needs of businesses and financial institutions across emerging markets.
It is expected that the MGA will expand into more product lines in the coming months.
The firm aims to establish itself as a one-stop platform for specialised risk solutions across emerging markets, connecting local demand with global insurance and reinsurance capacity.
Chrispin Onyancha, Chief Executive Officer, Athena Re, commented, “I am extremely proud of what the Athena Re team has achieved over the past nine months. Reaching Lloyd’s Coverholder status in such a short period is a significant milestone for a young company, but the journey has been about much more than obtaining an approval. It has been nine months of learning, challenges, perseverance and building the foundations of a business that we believe can make a meaningful difference to emerging markets.”
He continued, “Athena Re was built around a simple idea, that the markets experiencing some of the strongest economic growth should have better access to high-quality insurance capacity and specialist underwriting expertise. Our ambition is to bring A-rated Lloyd’s & Company market capacity to the doorstep of those who need it most, while using our local market knowledge to develop solutions that are relevant to the risks businesses actually face.”
