European Hub
The European Hub:
The European Hub is the central hub used for placing business, as it gives access to the European markets and London. Although London is the major centre of the international insurance market and is known as the LONDON INSURANCE MARKET, it is not the only market in Europe. Major insurance and reinsurance companies are based in many cities of Europe and are open for business. Our team, although major players in the London Market, have placed business from Frankfurt to Oslo as well as in the major Italian companies.
The London International Insurance Market (LIIM) is separate from the UK insurance and reinsurance industry which is also based in London. The LIIM comprises the following:
- UK and International Insurance and Reinsurance Companies
- Lloyd’s of London Syndicates
- Marine Protection and Indemnity Clubs or P&I Clubs
- Brokers and, mainly, Lloyd’s Brokers
The central core of its activity is the conduct of internationally traded insurance and reinsurance business, which is mostly non-life insurance and reinsurance. Marine and aviation has historically played a major role in its activities and, although this continues, the spread of business now covers the whole spectrum of insurance which has formulated new products to assist in the technological developments of recent years. The concentration of so many insurance entities in one location allows massive exposures to be covered in this one great market.
Lloyds of London Insurance Market
Lloyd’s of London is not an insurance company but an insurance market of members, both corporate and individual. Lloyd’s members conduct their insurance business in syndicates, each of which is run by a managing agent. Over the course of its history, Lloyd’s has built a reputation for developing innovative coverages for the U.S. market including excess of loss reinsurance, kidnap and ransom insurance and, more recently, terrorism insurance.
As most of the major international insurance companies, as well as Lloyd’s of London, are based in London, Gordon & Associates are able to access all of this underwriting capacity without difficulty as it is literally on its doorstep. The companies and Lloyd’s are also the highest rated insurers in the world offering the highest level of security. As the directors have been operating in this market for over 30 years, many of the personnel are personal friends, who are more than happy to trade with people they know they can trust. In fact, the CEO was a director of a number of Lloyd’s brokers and mainly specialized in marine business; the Commercial Director was a director of a major Lloyd’s broker for more than 30 years and specialized in non-marine business and the Claims and Technical Director was a leading Underwriter in both the major international market and on a major syndicate in Lloyd’s of London. Gordon & Associates, therefore, has the people to bring you into contact with the market itself and in this way gives you best assistance in protecting your business.
Gordon & Associates has easy access to the London Market, although with modern communication methods, it does not always make a lot of difference where the company is based. However, the directors were brought up in the age of personal contact with brokers and underwriters, which is why this personal touch with both our clients and their underwriters is at the heart of our mutually successful partnership.
