Tradition Re have announced a new strategic partnership with Lloyd’s of London broker Alwen Hough Johnson (AHJ). This partnership will allow Tradition Re easier access to the Lloyd’s market and gives them the ability to bring their specialized retro products such as industry loss warranties (ILW) to the attention of the wider London market. The relationship has actually been in place since early 2009 and is said to have already produced revenue for both parties. That’s a good sign that the range of products on offer are being readily accepted by Lloyd’s participants.
ILW’s are well suited to the Lloyd’s market and offer a great alternative source of capacity to the syndicates who operate there.