Pen’s fast growing Global Team supports non-UK insurance businesses to access the Lloyd’s market more effectively.

How do we do that?
We set up centralised hubs (via binding authorities) for the placement of specific classes of business (this could be property or liability) into Lloyd’s.

Once a hub is up and running, we provide proactive management, like analytics on performance, to help our partners understand which parts of their business are doing well - or poorly - and which they could grow.

What’s the value of managing a portfolio in this way?
The aim of a hub is to optimise the value of a portfolio. That sounds like a meaningless phrase, but it isn’t just words - using a hub means that your business is funnelled to a single panel of insurers, and that’s valuable because:

- It’s more efficient – it eliminates the need to find an underwriter willing to write each risk
- Taken separately the risks might be too small to warrant top commission/service, but together, they are valuable
- Completing Lloyd’s compliance checks becomes much easier via a hub

In the long term, the hub provides a stable platform to facilitate the growth and development of new business, to improve business efficiencies and to manage the business effectively with aligned Lloyd’s capital.