Overview of the group
Neon operates in the specialist Lloyd’s market but ceased underwriting new business on 6 January 2020. It underwrote a diverse range of property, specialty, casualty and marine risks on a direct and reinsurance basis, as well as through delegated authorities.
On 1 January 2021, the Neon Group, including its Lloyd’s Managing Agency and Lloyd’s Corporate Members (GAI Indemnity Ltd, Lavenham Underwriting Ltd. and Sampford Underwriting Ltd.) formally became part of RiverStone Holdings Ltd. (RiverStone) following an agreement signed on 26 September 2020 between RiverStone and Neon’s previous shareholder and capital provider, American Financial Group Inc.
A copy of the RiverStone UK group tax strategy can be accessed here. Neon regards the publication of this tax strategy as satisfying the statutory obligation under paragraph 19(2) Schedule 19 Finance Act 2016 to publish a tax strategy in relation to the financial year ended 31 December 2021. This strategy was approved by boards of directors of RiverStone Holdings Limited on 10 December 2021.