Specialist broker secures reinsurance backing for excess of loss facility

Specialist broker Tritech Brokers has arranged the reinsurance placement for a new excess of loss property insurance facility.

The facility will be operated by Aspect Labs with fronting from Hadron Insurance.

Acting as reinsurance broker to structure the facility’s panel, Tritech will be accessing the capacity both through its own retail broking division and by offering wholesale access to other broker firms.

Julie Benstead, chief executive at Tritech Brokers, said: “We’re proud to have structured the reinsurance for this facility and to be working with Aspect Labs and Hadron Insurance to bring £40m of capacity to market for high-hazard risks.

”As both reinsurance broker and a key distribution partner, we’re well-positioned to support other brokers who need access to this capacity. Our wholesale offering means brokers can tap into this facility through Tritech while maintaining their client relationships.

”The capacity gap in high-hazard sectors is significant and we’re excited to be part of the solution – whether that’s placing our own retail business or supporting other brokers with their challenging placements.”

’Real value’

The facility addresses capacity constraints in high-hazard sectors including recycling, waste management and specialist accommodation properties.

John Andrews, chief underwriting officer at Hadron Insurance, said: “Tritech’s dual role – arranging the reinsurance structure and providing both retail and wholesale distribution – adds real value to this facility.

”We’re excited to be working with them as we launch this product and are pleased to have added Aspect Labs to our growing stable of MGAs.”