Two new lines of business from Aviva’s Global Corporate & Specialty (GCS) division—Political Violence and Terrorism (PVT) and Accident and Health—are now available on the Lloyd’s market through Probitas.
This expansion further accelerates Aviva’s GCS business and marks another significant step in the company’s strategic integration of Probitas following its £249 million acquisition in July 2024. The two teams have worked closely over the past seven months to combine their strengths for the benefit of the market.
In November 2024, Probitas also announced the addition of five new lines of business following the integration, including Marine (Cargo, Fine Art & Specie, Ports & Terminals), Construction, Renewable Energy, Contingency/Event Cancellation, and Mergers & Acquisitions (M&A).
PVT, a new offering under Aviva’s GCS Crisis Management Division, protects international companies against political violence and terrorism. Coverage includes incidents such as civil commotion, riots, strikes, terrorism, and war, with limits of up to £500 million per risk (through Company Market).
This new product complements the existing Accident and Health and Contingency offerings, the latter of which is already available on the Lloyd’s market.
The introduction of these additional lines on Lloyd’s expands Aviva’s GCS offerings, extending their reach to new brokers, clients, and markets worldwide. It also strengthens Probitas with increased underwriting capacity. The new lines will be underwritten by Aviva’s existing leads, who have dual-stamp authority.
Luke Powis, Head of Crisis Management for Global Corporate & Specialty at Aviva, commented, “Aviva’s dedicated GCS Crisis Management team brings together decades of experience in helping international businesses navigate and protect against an ever-evolving geopolitical landscape, so we’re excited to enhance our product offering through our new Political Violence and Terrorism proposition.
“Introducing this new class of business to the Lloyd’s market, alongside Accident and Health and Contingency, now means the full suite of crisis management products are available to brokers across both Aviva and Lloyds platforms. This not only cements our commitment to providing comprehensive insurance solutions for our brokers and clients, but also provides access to previously unavailable markets, unleashing a wealth of untapped opportunities for Aviva’s GCS business.”
Antony Dodson, Chief Underwriting Officer and Active Underwriter for Probitas Syndicate 1492, added, “We are pleased to begin writing Accident and Health and Political Violence and Terrorism classes through Probitas Syndicate 1492. Together with the previous lines added, we are now able to offer a comprehensive suite of marine and specialty products on the Lloyd’s platform. We are looking forward to working with our clients and broking partners as we grow our business in the future.”
