The London market electronic placing platform PPL was used to close one of Lloyd’s largest transactions, the Aon Client Treaty facility for 2018.
The transaction is said to be one of the most complex in the Lloyd’s market; at 191 pages long, it covers 20 different underwriting authorities and almost every specialty risk class in the market – over 4,000 lines are transacted on an annual basis for nearly 2000 clients, according to the PPL board.
Chris Beazley, Chief Executive of the London Market Group said the fact that the platform was used to complete this incredibly complex transaction is “proof positive that PPL has come of age.”
PPL began trading in July 2016 and is a core component of the London Market Target Operating Model.
Beazley added; “This is hard evidence that PPL has the functionality to handle the tough stuff and deliver real service improvements.
“The collaboration between the broker, underwriters and the PPL team in making this happen was first class and shows what the market can do when it pulls together.”