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Probitas offers five new lines

Matt Washington, managing director, Global Corporate & Specialty at Aviva (File photograph)

Bermudian-based insurer Probitas is offering five new lines of business, marking a milestone in its integration with Aviva.

Probitas has begun quoting for Marine (Cargo, Fine Art & Specie, and Ports & Terminals), Construction, Renewable Energy, Contingency/Event Cancellation, and Mergers & Acquisitions.

The company said this development marks a significant step in the strategic integration plan following Aviva’s acquisition of the business, which completed in July.

Over the past few months, it said, Aviva and Probitas have been working closely to leverage their combined strengths.

This has included seconding 46 Aviva underwriters into Probitas to enhance underwriting capacity and support growth.

The additional lines Aviva will now write in the Lloyd’s market helps to expand its Global, Corporate & Specialty offering, bringing this to new markets and customers, as well as bolstering the Probitas offering with new underwriting capability.

The five new classes are available for quoting now and can be bound from January 1.

These lines will be written by Aviva’s existing underwriting leads who now have dual-stamp capability.

Matt Washington, managing director, Global Corporate & Specialty at Aviva, said: “By introducing these new classes, we are not only expanding our product offering but also reinforcing our commitment to providing comprehensive solutions to our brokers and clients.

“These new lines are our first step towards expanding Aviva’s offering, bringing the full GCS proposition to Lloyd’s and there is more to come.”

Probitas Holdings (Bermuda) Ltd is the ultimate holding company of the Probitas Group.

The transaction with Aviva included Probitas Managing Agency, which is the managing agent of Lloyd’s Syndicate 1492, the corporate member Probitas Corporate Capital Ltd and all other subsidiaries.

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Published November 17, 2024 at 1:42 pm (Updated November 17, 2024 at 4:43 pm)

Probitas offers five new lines

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