Mena News - Kiln And Alliance Re Join Hands in Mena

Source: Middle East Insurance Review | Sep 2006

London-based R J Kiln & Company (Kiln), one of the largest managing agents in the Lloyd’s insurance market, and Cyprus-headquartered Alliance International Reinsurance Public Company (Alliance Re), have formed a partnership to accept Property Facultative Reinsurance Business in respect of risks located in over 20 countries throughout the Middle East and North Africa (Mena) region.

The venture, Alliance Insurance Agents (AIA), which will develop a portfolio of property business, is authorised to accept property facultative reinsurance business on behalf of Lloyd’s Syndicate 510 and Alliance Re. The company will underwrite the business jointly and equally on behalf of its underwriting partners, Kiln and Alliance Re.

The initial joint capacity of up to US$15 million any one risk offered to the market is expected to result in a significant income stream to both Kiln and Alliance Re.

AIA is a registered Cyprus company, regulated and licensed by the Superintendent of Insurance and approved by Lloyd’s of London as a Lloyd’s Coverholder.

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