New insurance underwriting business launched

Wednesday 04 June 2014

A new underwriting business has been set up to provide a range of insurance policy covers to insurance brokers in the islands and the UK.

Known in the insurance industry as an “underwriting agent” or “managing general agent” Advantage Underwriting Limited will act for insurance companies and Lloyds of London underwriters and provide a personal underwriting service for its brokers. It also aims to open up access to the Lloyds insurance market for broker’s client risks.

With offices in Grenville Street, Advantage’s staff provide insurance quotations, bind cover and issue the policy documentation. Products include commercial combined, liability, high net worth household and professional indemnity insurances.

Director Richard Packman says: “This is an exciting opportunity both for our business and indeed for Jersey as a whole, in marketing the Island’s insurance capabilities on a wider stage. We have worked hard to secure our underwriting capacity and are now looking forward to developing the business for the benefit of our clients and stakeholders.  Our aim is to make it easier for our brokers to strengthen their client relationships with our products, both by retaining existing business and attracting new business.”