Rokstone acquires a box at Lloyd’s

Rokstone acquires a box at Lloyd’s | Insurance Business Australia

Reinsurance

Rokstone acquires a box at Lloyd’s

It secures a three-year deal on gallery three

Reinsurance

By
Kenneth Araullo

International specialty re/insurance MGA Rokstone has announced its acquisition of a trading box at Lloyd’s of London to mark a significant expansion in its operational capabilities.

The company revealed that it has secured box 335 on gallery three in a three-year agreement and will begin trading live from today – April 15, 2024.

This new setup at Lloyd’s will feature Rokstone’s underwriting teams from its property, marine, aviation, contingency, construction, and energy portfolios. The presence of these teams on the Lloyd’s floor is set to provide brokers with direct, face-to-face access to discuss complex specialty risks.

Rokstone notes that the box is a culmination of its achievements in the past year, including a gross written premium (GWP) of US$1.2 billion. The firm has also maintained an underwriting loss ratio (ULR) below 53% and an implied combined operating ratio (COR) of 82.5%, all while operating independently without external investment or debt.

The company also explained that the establishment of a permanent presence at Lloyd’s is its commitment to sustainable and dynamic business practices.

James Potter, CEO of Rokstone, expressed enthusiasm about the company’s latest strategic development.

“We’re excited to take our place on the Lloyd’s trading floor, giving more brokers direct access to some of the world’s leading underwriters in the Specialty classes they need,” Potter said. “In just eight years we’ve successfully built a vibrant and exciting $1.2 billion GWP business that has become the desired home for the best talent.

“But this is just the beginning; we’re on a journey to become the most inspiring MGA in the world. Having a box at Lloyd’s signals our long-term commitment and takes us one step further towards our goal.”

Vicky Carter, deputy chair at Lloyd’s, welcomed Rokstone to the Lloyd’s building, highlighting the company’s strong market reputation.

“Rokstone has built a strong reputation in the market and we welcome them warmly to the Lloyd’s building. Lloyd’s is the place for forward-thinking companies like Rokstone to come together and innovate to find solutions to some of the most complex and challenging risks facing us daily. At Lloyd’s our ambition is attracting the world’s best talent to operate within the market environment,” she said.

In February, the firm also announced the appointment of Travis Bowles as its new global head of claims as it ramps up its global expansion.

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