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Brexit Coverholder Partnerships

Prospect MGA offer Coverholder Partnerships with European Coverholders looking to Access Lloyd’s International Licenses

 

Prospect is an independent and privately owned Lloyd’s of London broker. We are also an approved Lloyd’s coverholder.  With Brexit looming at 11pm on March 29th, 2019 many European coverholders are still unsure as to how best secure their Post-Brexit Trading rights.   After Brexit EEA domiciled coverholders will lose their ability to write direct insurance business in the many countries where Lloyd’s of London hold licenses around the world including, amongst other territories, the Caribbean, Australia, New Zealand, Canada

 

Prospect would welcome discussions on potential partnerships with existing Lloyd’s coverholders to bridge this gap, with an aim to creating ‘twin binders in multiple territories.’ A binder could be held by Prospect with Lloyd’s syndicates underwriting business in those territories where EEA domiciled coverholders are not licenses and the European Coverholder could operate a mirror binder for their own licensed territories.  This will enable the EEA domiciled coverholder to accept ‘EEA orphaned’ risks and, in doing so, protect and even enhance their valuable business and contacts.

 

If you are interested in opening discussions with Prospect, please contact Jamie Webb at jwebb@prospectbrokers.com.