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Aviva’s Lloyd’s business Probitas announced it began to quote for five new classes of business – marine (cargo, fine art & specie, and ports & terminals), construction, renewable energy, contingency/event cancellation, and mergers & acquisitions (M&A), effective Nov. 1.
This development marks a significant step in Aviva’s strategic integration plan following its acquisition of the business, which completed in July. Aviva said significant expansion of London market capability underscores Aviva’s ambition to become a leading dual-platform insurer.
Over the past few months, 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 to deliver the 2025 Syndicate Business Forecast (SBF).
The additional lines Aviva will now write in the Lloyd’s market helps to expand its Global, Corporate & Specialty (GCS) 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 from Nov. 1 and can be bound from Jan. 1, 2025. For consistency, these lines will be written by Aviva’s existing underwriting leads who now have dual-stamp capability.
“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,” commented Matt Washington, managing director, Global Corporate & Specialty at Aviva. “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.”
Aviva continues to assess opportunities over the coming months and plans to underwrite additional new lines of business through Probitas as it continues its integration. This broadens the product suite for brokers and helps Aviva towards its goal of becoming a leading dual-platform London Market insurer.
Source: Probitas
