Neon Launches Marine and Offshore Construction Consortium

London Tuesday 21 March, 2017

Neon Launches Marine and Offshore Construction Consortium

Neon is pleased to announce the launch of a new Marine & Offshore Construction Consortium

The Neon-led consortium went live in February and seeks to address the increasingly bespoke insurance needs of shipyard clients.

The consortium is underwritten by Neon’s Mireille Dolonen and offers $70m capacity for shipyard construction and $55m for rig construction. Neon’s underwriting approach will be underpinned by enhanced information gathering to anticipate and understand the new risks that shipyards face. Neon leads the consortium and capacity comes from a range of Lloyd’s syndicates.

Recognising the importance of cooperation between underwriters, brokers and clients in addressing emerging risks, the new consortium will foster stronger communication between the broker community and insurers in order to help clients better understand their needs and facilitate tailored risk solutions. This will include extensive consultation with clients, risk managers, CFOs and financiers to map and understand new risks impacting the sector.

The consortium will also seek to exchange knowledge with the wider market through the launch of an annual Broker Marine and Offshore Construction Conference and the introduction of a Marine and Offshore Construction course for young Lloyd’s talents.

ANGUS WILSON, HEAD OF MARINE, COMMENTED:

Underwriters in London can no longer afford to sit back and expect business to come to them when macroeconomic conditions, product lines, strategic, financial and operational risks are all changing and shaping the insurance needs of shipyards.”

With Neon at the forefront, this customer-centric initiative increases the London market’s relevance and proximity to clients and enhances client advocacy through improved communication. The launch of this consortium is also a clear example of Neon’s ambitions to become one of the leading providers of Marine insurance in the London market, capitalising on Mireille’s unrivalled expertise.”

 

MEDIA ENQUIRIES

FTI Consulting
Tom Blackwell / Antonia Powell
+44 (0)203 727 1051 / 1485

neon@fticonsulting.com

 

 

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