Lloyd’s Syndicate Dale and DUAL Launch MGU with Focus on U.S. Property Insurance December 21, 2020
Dale Underwriting Partners and DUAL announced a new joint venture, Dale DUAL MGU Ltd. (DDML), in collaboration with Aviva with immediate effect. This partnership has been brought together by Howden Reinsurance Broking led by head of Global Specialty Reinsurance, Gordon Craig.
As part of this collaboration, UK insurer Aviva has entered into a three-year agreement to offer capacity on mid-market global commercial property business written by Dale’s property insurance team and focusing primarily in the U.S. market. The initial focus of DDML will be to bring additional capacity to the existing Dale underwriting teams.
Lloyd’s, Insurtech Parsyl Launch Insurance Facility for COVID-19 Vaccine Shipments December 15, 2020
Lloyd’s and insurtech start-up Parsyl Inc. announced the launch of the Global Health Risk Facility (GHRF), which will provide billions of dollars of insurance coverage, together with risk mitigation services, to help protect and support the global distribution of COVID-19 vaccines as well as critical health commodities.
A public-private collaboration, the GHRF has received support from 14 global insurers and reinsurers as well as the U.S International Development Finance Corp. (DFC). The DFC has approved a loan of up to $26.7 million for the facility, which will be used to capitalize the new public-private Syndicate 1796, and allow the GHRF to offer cost-effective insurance policies for shipments of vaccines and medical products to developing countries.