NEW YORK, Feb. 16, 2016 /PRNewswire/ -- Ambridge Partners LLC ("Ambridge"), a managing general underwriter of Transactional Insurance products, is pleased to announce that the per-risk capacity offered by a consortium of syndicates at Lloyd's of London and other international insurers through Ambridge and its wholly owned subsidiary Ambridge Europe Limited ("Ambridge Europe") will be US$175,000,000, GBP175,000,000 or EUR175,000,000.
Jeffrey Cowhey, President of Ambridge, commented:
"In 2015, Ambridge and Ambridge Europe underwrote an aggregate of $6.1 billion in capacity on transactions having an aggregate value of $864 billion. As Transactional Insurance is increasingly utilized in transactions of all sizes, our increased per-risk limits allow us to provide more meaningful capacity for transactions of all sizes, as well as creative and responsive insurance solutions for clients."
Since its formation in 2000, Ambridge has specialized in Transactional Insurance products. In early 2015, Ambridge Europe completed its transition from a marketing and distribution subsidiary to a full service managing general underwriter of Transactional Insurance products. In December 2015, Brit Limited, the global specialty insurer and reinsurer, completed a significant strategic investment in Ambridge. Under the arrangement with Brit, Ambridge retained its independence and continues to build upon its industry-leading reputation as a responsive and efficient managing general underwriter focused on providing clients with customized insurance solutions.
Ambridge and Ambridge Europe together have 30 employees and projected premiums for 2016 of $175 million.
About Ambridge Partners LLC
Ambridge and its wholly owned subsidiary, Ambridge Europe, are specialized managing general underwriters of Transactional and Specialty Management Liability Insurance products. Its underwriting team is focused on providing clients with customized insurance solutions for their unique exposures; this can be in connection with a wide range of circumstances or situations such as financings & investments, licensing agreements, liquidations, mergers & acquisitions and restructurings & workouts. Ambridge Europe Limited is authorized and regulated by the Financial Conduct Authority.
About Brit Limited
Brit is a market-leading global specialty insurer and reinsurer, focused on underwriting complex risks. It has a major presence in Lloyd's of London, the world's specialist insurance market provider, with significant US and international reach. The Brit Group underwrites a broad class of commercial specialty insurance with a strong focus on property, casualty and energy business. Its capabilities are underpinned by robust financials. Brit is a subsidiary of Fairfax Financial Holdings Limited.
SOURCE Ambridge Partners LLC