Ariel Re Secures $270m of New Capital to Support 2023 Growth
Summary
In addition to the new investors capital, Pelican Ventures and JC Flowers have meaningfully increased their underwriting capital commitments to support Ariel Res growth.In August 2022, Lloyds launched London Bridge 2 PCC Ltd. (LB2), a protected cell company, established to reduce complexity and give greater flexibility for global investors to participate in the Lloyds market. We are delighted that part of our new funding is the first successful example of investors coming to Lloyds via the innovative LB2 structure; it was more efficient than ever to deploy meaningful capacity in Syndicate 1910. Hampden Agencies acted as Lloyds Members Agent for the 5 Corporate Members and Artex Capital Solutions provided the Insurance Management Services for the London Bridge 2 Cells involved in these transactions.About Ariel Re:Ariel Re offers innovative insurance and reinsurance solutions and services through our offices in Bermuda, London, and Hong Kong, meeting the business needs of a diverse client base. Our team collaborates closely with world-class executives to identify, develop, and grow the most promising insurance concepts into impactful and sustainable businesses. Through the collective intelligence and expertise of the markets underwriters and brokers, were sharing risk to create a braver world.The Lloyds market offers the resources, capability, and insight to develop new and innovative products for customers in any industry, on any scale, in more than 200 territories.Were made up of more than 50 leading insurance companies, over 200 registered Lloyds brokers and a global network of over 4,000 local coverholders.