IUA welcomes Travelers as new member companyInsurance and Reinsurance, IUA — By admin on December 16, 2013 at 11:30 AM
The International Underwriting Association has welcomed Travelers Insurance Company Limited as its latest member firm
Travelers joins 40 other full member companies that together represent the vast majority of businesses operating across the London company market. The IUA’s recent statistics survey revealed this sector generated premium income of £24.225bn in 2012.
Dave Matcham, Chief Executive of the IUA, said: “Travelers is a respected name in the London market and across our industry in general. They are a great addition to the IUA, and their insurance knowledge and expertise will provide meaningful contributions to our ongoing discussions about market issues.”
Rob Cage, Chief Underwriting Officer of Travelers, said: “We are very pleased to join the IUA as we continue to grow our international business operations. We look forward to working with the other members in their efforts to promote the London market as an attractive place to do business.”
Membership of the IUA enables organisations to participate in around 70 market bodies run by the association. These groups cover a full range of underwriting business classes, claims, legal and regulatory issues and market modernisation projects and are actively supported by over 700 London company market professionals.
About the IUA
The International Underwriting Association of London (IUA) represents international and wholesale insurance and reinsurance companies operating in or through London. It exists to promote and enhance the business environment for its members.
The IUA’s London Company Market Statistics Report shows that premium income for the company market in 2012 was £17.993bn with a further £6.232bn controlled by London but written elsewhere. These results are based on a comprehensive survey of 62 companies and give an overall intellectual and economic premium total of £24.225bn for the London company market.
The Travelers Companies, Inc. is a leading provider of property liability insurance for motor, home and business. The group has more than 30,000 employees and operations in the United States, Canada, UK and Ireland, and through a joint venture in Brazil, under the brand JMalucelli Seguros. The group generated revenues of approximately USD$26 billion in 2012. The European based operations offer customers a wide range of coverage through Travelers Insurance Company Limited; Travelers Syndicate Management Limited (Syndicate 5000 at Lloyd’s) and Travelers Underwriting Agency Limited.
For more information, visit www.travelers.co.uk