Lloyd’s announced that Ireland’s Hooper Dolan Insurances Ltd has become the first Irish-based insurance broker to be granted direct access to Lloyd’s of London. Two UK-based brokers, Woodgate & Partners Ltd and SSL Insurance Brokers Ltd, also gained accreditation.
“Hooper Dolan has been trading with the Lloyds market through London-based brokers since 1978, primarily placing non-marine, property and liability insurance,” said the announcement. “Accreditation will allow Hooper Dolan to contact Lloyd’s underwriters directly.”
Hooper Dolan Chairman and CEO Ronald Dolan, stated, “This is an exciting development for Hooper Dolan. We believe that this provides a great opportunity for us to develop different markets and the relationship that we have established with Lloyd’s. It will allow us to build on our long-standing existing arrangements and friendships.”
Steve Boucher, who is responsible for managing the broker accreditation process at Lloyd’s, which requires brokers to demonstrate their suitability for direct access to Lloyd’s by meeting a series of commercial standards, and includes a review of their market knowledge and expertise, company reputation, and financial position, stated, “We are delighted to accredit our first Irish-based broker. Hooper Dolan is a well-established broker and we welcome their addition to the Lloyd’s market.”
The bulletin noted that “Woodgate & Partners Ltd was established in 1975 and specialises in exhibition cancellation, motor and general non-marine insurance. SSL Insurance Brokers Ltd is a newly formed broker supported with investment from two European retail brokers. SSL handles all lines of both marine and non-marine business on a direct and reinsurance basis.”
The newly accredited brokers bring the total of Lloyd’s brokers permitted direct access to the market to 161.
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