Neon Italy has partnered with broker Cambiaso Risso in a joint venture to grow its marine books of business by targeting Hull and Cargo business underwriting in Italy.
The broker will have a minority shareholding in the venture, which aims to grow Neon’s marine portfolio by connecting its risk solutions with Cambiaso’s global network of relationships and specialist technical expertise developed over its 70-year history.
Neon Italy will be led by Sergio Revello, who brings extensive experience in the international marine sector across both broking and underwriting roles, including on behalf of Lloyd’s syndicates.
The board of directors includes Neon’s Group Chief Executive, Martin Reith and Mauro Iguera, CEO of Cambiaso Risso.
Neon hopes to deploy “meaningful capacity” through the joint venture Italian arm.
Subject to approval, Neon Italy will start writing business from 1st January 2018, regulated by IVASS and become a Lloyd’s approved coverholder writing on behalf of Neon’s syndicate 2468.
