Marsh arranges US$425 million of non-cat capacity for U.S./Canadian companies in UK market

Marsh, a global insurance broker and risk adviser, has arranged a property facility that will provide up to US$425 million of non-catastrophe capacity in the London market for United States and Canadian companies, the company has announced.The facility can be adapted to provide up to US$262.5 million worth of non-critical catastrophe capacity, and up to US$111.75 million of critical catastrophe capacity.Two Lloyds syndicates, Catlin Syndicate SJC2003 and Ascot Syndicate RTH1414, will lead the cover, with the authority to bind non-catastrophe capacity on behalf of the majority of following markets.This facility is one-of-a-kind in the market, Richard Marks, the vice president of Marshs U.S. property placement practice, said in a press release. Not only does it mean that procuring capacity will be much faster and more efficient, it will also give much needed flexibility to our clients by providing either a 100% or part solution to meet their demand for excess of loss insurance cover.The facility is aimed at U.S. and Canadian-domiciled clients, Marks said, although it will cover worldwide exposures. With a minimum attachment point of US$250 million, it can also be used as quota share capacity as a part of a larger limit, he said. Additional excess of loss capacity is also available to build a larger limit.Security for the product is composed of US$325 million from syndicates at Lloyds and US$100 million from Lancashire UK Limited. The mining and processing of natural resources and contingent business income classes are excluded from coverage.