Following meetings in London in December, Axis is poised to announce renewal of its Binding Authority Contracts for 2014.

Lloyd’s Underwriters are still treating Australian property insurance business very warily with adverse results in some portfolios and an Australian history of storm, cyclone and flood catastrophe losses. Lloyd’s Australian property results have been at best average and at times quite poor.

Underwriters commended Axis on its consistent underwriting performance over many years and, as a result, Axis has seen an increase in Underwriter support for its facilities.  Gary Dawson, Managing Director of Axis Underwriting, said, “It is very pleasing to have the support of the Lloyd’s market and we are looking forward to announcing increases in the capacity and scope of our Binders as soon the contracts are finalised.”

Mr Dawson added, “Our Liability Binders are being renewed with an expanded range of occupations to further increase our scope to assist brokers. In addition, our new Legal Expenses Binder arranged with the leading Lloyd’s Legal Expenses Syndicate, will enable us to offer a range of legal expenses products to the market.”

Axis is a leading Lloyd’s market for Commercial Strata, hospitality and hard to place risks and the extension of our property capability will enhance our offering to brokers. See our risk appetite for our current scope of risk.