Pinpoint UK Solutions Ltd, part of AM Specialty Insurance Group (ASIG), has received Lloyd’s of London approval to operate as an authorised coverholder, strengthening its UK and London Market presence and enabling direct access to Lloyd’s via a locally established underwriting platform to support long-term growth across specialty insurance lines.
Coverholder status will reportedly enable Pinpoint to underwrite business on behalf of a Lloyd’s managing agent within defined underwriting parameters and subject to the execution of a binding authority agreement.
According to Pinpoint, this framework ensures that all delegated underwriting activity is conducted in line with Lloyd’s established governance, risk management and compliance standards.
“Operating from our London office, Pinpoint will deploy its underwriting expertise and delegated authority capability to deliver disciplined and well-governed underwriting solutions,” the firm added.
Darren Powell, Chief Underwriting Officer of Pinpoint, commented, “Lloyd’s coverholder approval is a significant milestone for Pinpoint and reflects the strength of our underwriting expertise, governance framework and operational readiness.
“This status enables us to enter into insurance contracts on behalf of Lloyd’s syndicates under delegated authority, while maintaining the high standards of underwriting discipline and risk management expected of the Lloyd’s market.”
In related news, earlier this month, AM Specialty Insurance Company (UK) (ASIC UK) was authorised by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to conduct regulated insurance activities in the UK, becoming the first insurer to be authorised under the authorities’ accelerated authorisation pathway.
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