Property and casualty underwriter ACE Group has started underwriting energy risks through Syndicate 2488 at Lloyd’s of London in an effort to expand its global portfolio.
The initiative represents the company’s commitment to boost its presence in energy sector, especially in the oil and gas markets.
The company will write offshore risks on a global basis and also underwrite onshore risks on a global basis excluding North America.
ACE Global Markets president and Syndicate 2488 active underwriter Matthew Shaw said addition of Lloyd’s platform enables the company to provide Lloyd’s brokers with a comprehensive solution to clients with large, complex and multinational risks.
”It also gives us access to new markets that can benefit from our underwriting skills and specialist engineering teams,” Shaw added.
The company’s global energy team underwrites business in North America, South America, Europe, Asia, Africa and the Middle East.
Trading in 53 geographies, ACE delivers commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.