Over two thirds of Lloyd’s capacity is now available via the online re/insurance pricing and placing platform Tremor Technologies, a figure equating to $33 billion.
Tremor says 33 Lloyd’s Syndicates representing over 70% of its Managing Agents have entered into agreements to offer coverage directly on its marketplace.
The Syndicates are described as ranging in size and all trained on the platform, having priced at least one placement each to date.
Commenting on the milestone, Tremor founder and CEO Sean Bourgeois said, “We believe that Tremor is a perfect complement to the Lloyd’s of London marketplace, offering its Managing Agents and their Syndicates access to more risk, more often, more dynamically.”
“Syndicates that have wanted to compete for larger shares of placements in the past but have been held back by traditional market structure are winning larger and larger shares on Tremor.
We believe Tremor offers these Syndicates wonderful growth potential as we continue to bring risk to capital more efficiently – we look forward to further contracting with more Lloyd’s participants this year.”
The programmatic re/insurance risk transfer marketplace also offers access to the largest US, Bermudian and European players, just recently surpassing $500 billion in reinsurance capital.