Premia Holdings takes Hiscox insurance book in fourth major Lloyd’s deal

Bermuda-based run-off specialist  Premia Holdings picked up its fourth major loss portfolio deal at  Lloyd’s, buying a diverse mix of business from  Hiscox Syndicate 33 via its own  Lloyd’s vehicle Syndicate 1884.

Premia leverages Syndicate 1884 to provide risk-transfer and run-off solutions for other Lloyd’s syndicates and capital providers and has picked up nearly $1.7 billion in reserves to date via the unit.

Since its launch in 2017, Premia has acquired more than $3 billion in gross loss reserves across all the broader bulk of its platforms spanning Bermuda, the US, the UK, and Continental Europe.

Premia group CEO Bill O’Farrell (pictured) said: “This is Premia's fourth major transaction at Lloyd’s since acquiring our Lloyd’s Managing Agency and syndicate in 2020 and we have the team, scale and appetite to do more. Delivering successful run-off solutions to participants in the vibrant Lloyd’s market is a core part of our business and it is a pleasure to add such an historic insurer, that traces its history back over 120 years at Lloyd’s, to our client roster.”

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