US-based Premier Assurance Group (PA Group) has formed a partnership as a Coverholder with Lloyd's London.
This status provides PA Group with authority to underwrite business on behalf of a Lloyd’s syndicates.
Under the deal, PA Group’s products will be underwritten by Lloyd’s. First initiative of the parthership will be launching of Premier Health major medical plans which are planned to be marketed in Latin America.
PA Group president and CEO Leonardo Cornide said: "It was an arduous due diligence process, but we are proud that Lloyd’s has chosen to accompany us in our efforts to achieve robust business growth and the development of new markets.
"We now have the capability of extending our product offering. I am convinced that this new partnership will bear results very rapidly."
PA Group started providing worldwide health coverage, after its acquisition of Worldwide Expatriate Association (WEA) in 2006.
The company’s products are also available in Latin America, the Caribbean, Europe, Asia and the Middle East, in addition to US.
Image: Lloyd’s building. Photo: courtesy of Lloyd’s of London.