Relationship has assisted in bringing alternative capacity and products to the Lloyd’s and London markets
Tradition Re, the US reinsurance division of Tradition and a subsidiary of Compagnie Financiere Tradition, and Alwen Hough Johnson (AHJ), a Lloyd’s of London broking house, have entered into a strategic trading relationship. The deal is intended to facilitate Tradition’s access to Lloyd’s and the broader London market for their specialized retro products, including Industry Loss Warranties (ILWs).
The company said that the relationship has been in place since early 2009 and has already produced revenue for both the parties. More importantly, it has assisted both AHJ and Tradition in bringing alternative capacity and products to the Lloyd’s and London markets.
Kendall Johnson, managing director and global head of Reinsurance and Weather Derivatives at Tradition, said: When we were forming Tradition Re, we looked for a partner in the Lloyd’s environment that was independent, had great experience and put its clients first.
This was a natural fit for us. My colleagues at Tradition Re knew the senior people at AHJ, so we could establish a relationship that was seamless and easy to implement.
Hugh Price, chairman of AHJ, said that he was delighted to have reached this arrangement with Tradition, which offers new marketing possibilities for both the firms.