Overview

The Faraday Property Insurance team underwrites a worldwide direct and facultative property portfolio with an emphasis on North America.

We underwrite a diverse range of occupancies from real estate, hospitality and municipal through to manufacturing and heavy industries, and from small family businesses to Fortune 500 companies.

Our account is predominantly focused in the primary. We consider excess of loss placements where there is minimal catastrophe exposure, or where critical catastrophe is sub-limited below our attachment point. We lead over 40% of this portfolio by premium volume.

Our general worldwide property book of binding authorities is primarily based in North America. The emphasis is on, but not limited to, non-critical catastrophe exposures, and we lead 50% of this business.

Underwriting strengths

Our flexible, open-minded approach to new and renewal accounts and our significant capacity makes us an insurer of choice across a wide range of property classes. We aim to offer a consistent approach to risk pricing, and our underwriting team is backed by proprietary pricing models. Faraday has a particularly large loss modelling team, enabling us to base every decision on an accurate risk assessment.

In our delegated authority business, we forge strong relationships with our coverholders and work hand in hand to develop the business with them. The Lloyds brand is recognised and respected throughout the world and we support those coverholders who want to benefit from becoming Lloyds approved.

Our underwriting team benefits from strong claims, wordings and actuarial support.

Geographical Split

  • US 65%
  • Caribbean 10%
  • Canada 8%
  • Latin America 7%
  • Europe 6%
  • Australasia 2%
  • Far East 1%
  • Other 1%