Chaucer Syndicates Limited announced a new partnership with Nakhodka Re in Moscow and RFIB Ltd in London to launch SeaLine, as thefirst Lloyd’s coverholder in Russia.
‘;Chaucer and RFIB acted as sponsors to Lloyd’s for SeaLine, which received Lloyd’s coverholder approval on 31 March 2011,’; said the bulletin.
‘;Russian reinsurer, Nakhodka Re, owns SeaLine, which will underwrite cargo reinsurance risks in the CIS Region.’; Enrico Bertagna, Lloyd’s Regional Manager, Europe, commented: ‘;Lloyd’s is pleased to welcome the first Coverholder, SeaLine, in Russia.
This is an important step towards exploring the potential of the country’s reinsurance market.
Russia is an increasingly important market for Lloyd’s and we have seen reinsurance premiums grow to $166 million la…