ACE Group has announced it will start writing energy risks through Syndicate 2488 at Lloyd's.
In a move that demonstrates the company’s commitment to the oil and gas market, ACE will write onshore and offshore risks all over the world, except in North America. ACE's existing energy portfolio is written in the London company market and worldwide.
Matthew Shaw, president of ACE global markets and active underwriter for Syndicate 2488, said: “ACE is one of the few truly global players, and one of the largest capacity providers, in the energy market.
“Adding the Lloyd’s platform enables us to offer Lloyd’s brokers 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.”
Mairead Dawson, underwriting manager at ACE global energy, said: “A vast array of energy infrastructure projects have recently come to fruition. The sheer scale of the energy risks created, particularly in emerging markets in South America, Asia and West Africa, has brought a requirement for new expertise and capacity.
“Our robust underwriting platform and the strength of the global Lloyd’s franchise brings us the opportunity to lead and innovate in these carefully selected markets.”
ACE, Lloyd's, energy, specialty