Reinsurance News

Aurous Risk Partners secures first Lloyd’s binder

5th April 2019 - Author: Matt Sheehan

Aurous Risk Partners , a London-headquartered managing general agency (MGA), has secured its first Lloyd’s energy binder, led by Arcus Syndicate 1856.

aurous-risk-partners-logoThrough this arrangement Aurous Risk Partners will be able to offer clients capacity within the European Economic Area (EEA) on behalf of Lloyd’s Brussels security and Arcus Syndicate 5330.

Aurous Risk Partners, in conjunction with Svalinn, has successfully become a 9000 series coverholder, which it said will minimise cost and increase efficiency for both brokers and capacity partners when compared to the traditional MGA model.

The firm explained that it was also continuing discussions with other capacity partners in order to increase its offering in time for the June renewal period.

Additionally, it will continue to develop its relationships with capacity provider to enable it to offer capacity across terrorism, political violence, cyber and liability lines of business.

Aurous Risk Partners is also looking to add aviation and property capabilities in the near future, it said.

“Obtaining capacity from Lloyds at this point in time demonstrates our plan and people are different,” said Carl Beardmore, Chief Executive Officer (CEO) of Aurous.

“We expect other binders to become operational during the next couple of months,” he added.

Animesh Majrekar and Rob Little, Aurous’ Energy Risk Partners, also commented: “It’s great to be back in the market underwriting and delivering the differentiated service offering Aurous is bringing to the market.

“We look forward to building out our initial capacity, and working with capacity partners to enhance their ROC.”

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