PPL was used to close one of the largest transactions in the Lloyd’s market in January 2018, proof positive that the platform can handle the most complex transactions.
The Aon Client Treaty facility encompasses virtually every industry segment, product range, and geography underwritten in the London market. This is probably the largest and most complex transaction at Lloyd’s and at 191 pages long, it covers 20 different underwriting authorities and almost every specialty risk class in the market – over 4,000 lines are transacted on an annual basis for nearly 2,000 clients.
For the first time, the 2018 renewal was completed using Placing Platform Limited (PPL), hard evidence that the platform has the functionality to handle the tough stuff and deliver real service improvements. Some of the underwriters involved had not used PPL before, so there was a tremendous collaborative effort between the broker, underwriters and the PPL team to make sure everyone was comfortable throughout the process.