To the oldest insurance market in the world.
Lloyd’s, a globally recognized name and the oldest in the insurance market, is home to specialist syndicates that price and underwrite risk and accepts businesses from more than 200 countries and territories worldwide. Those wishing to purchase insurance may access the Lloyd’s market via a broker, coverholder or service company. Each syndicate sets its own appetite for risk, develops a business plan, arranges its reinsurance protection and manages its exposures and claims. Lloyd’s reviews and agrees to the business plans, monitors compliance against its minimum standards and evaluates syndicates’ performance against their plans.
Gaining access to Lloyd’s to place business can be difficult due to a demand that is greater than its capacity supply. To provide individuals with easier entry into Lloyd’s, Artex has established a Protected Cell Company (PCC), which provides reinsurance to Lloyd’s underwriters. We offer cellular insurance vehicles within the PCC to individuals who want to share in the reinsurance market. Often this may include two individuals who already know each but are unable to access Lloyd’s by traditional means.
The PCC is an ideal fit for high net worth individuals, for example, who are sophisticated investors and are seeking to diversify their portfolio. They are willing to share in the risks to gain the potential rewards in using a PCC. With a PCC, they don’t have the regulatory and insurance requirements (setting up an insurance company, issuing policies, paying claims, etc.) that are part of the traditional market, and there can be substantial administrative cost advantages.