Neon opens up UK ILS market
Neon Underwriting has launched the first insurance linked security (ILS) deal in the UK, after a new law designed to incentivise the creation of vehicles was passed last month.
Neon is part of the Great American Insurance Group, the insurance operations of American Financial Group, and operates in Lloyd’s of London.
It underwrites property, specialty, casualty and marine risks directly and through reinsurance. Its ILS vehicle, NCN Re, is the first of its kind in the UK....