Al Wathba Insurance has become the first UAE-based insurer to secure access to the Lloyd’s of London market via the London Bridge 2 PCC structure.
It allows the company to deploy capital efficiently to support Lloyd’s syndicates while diversifying its revenue on a global scale.
Starting in the 2026 financial year, the company expects to realise returns from an underlying portfolio exceeding $100 million in global Property & Casualty (P&C) premiums.
Al Wathba partnered with Lockton Re, including the CEO of MENA, Gerard Monayer, and the Head of Lloyd’s Capital, James Mackay, and their team, to structure the transaction and curate the portfolio of underlying Lloyd’s Syndicates.
Commenting on the deal, Shukri Almheiri, CEO of Al Wathba Insurance, stated: “This milestone investment will provide Al Wathba Insurance with a significant competitive edge.
“We will leverage the highly sophisticated risk solutions available through Lloyd’s of London, alongside capitalizing on the investment returns that the Lloyd’s market has historically delivered.”
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