Lloyd’s insurer Neon has confirmed the launch of Orca Insurance Agency, as first revealed by re-Insurance.com back in November.
Orca is a Lloyd’s approved coverholder, which will underwrite on behalf of Neon Syndicate 2468.
The Copenhagen-headquartered platform will be led by Lars Hendriksen as CEO.
He joins the coverholder, along with his seven-strong marine team from the Swedish-headquartered underwriting agency Lavaretus Underwriting AB.
Lavaretus Underwriting is a subsidiary of JLT.
In November, this publication revealed that the UK broker wrote a market memo to underwriters, who participate on the agency’s binders, informing them that Hendriksen has “submitted his resignation to move to a new agency controlled by Neon”.
The memo – from JLT Specialty senior partner John Atkins – continued: “Other resignations have been received from underwriting and claims staff at the Copenhagen office with varying notice periods.”
“It is a pleasure to announce the launch of our Nordic venture, Orca,” said Martin Reith, Neon Group CEO and chairman of Orca.
“Copenhagen is an excellent base to build out our marine capabilities and establishing a significant presence here is core to our growth aspirations,” Reith added.
“Orca will not be just another marine business, however. The team shares Neon’s philosophy and commitment to a technical approach, based on considerable experience and expertise.”
“This will be further complemented by Neon’s entrepreneurial and innovative approach and, over the coming years, we anticipate adding new classes and underwriting teams to the Orca platform, as Neon continues its international growth.”
“The Orca team is excited to launch as part of the Neon Group,” Hendriksen said.
“We believe we have a compelling and differentiated client offering, underpinned by a blend of technical knowledge and strong risk selection,” he added.