ShippingWatch

Neon to exit marine insurance through Lloyd's of London

The owner of UK company Neon will no longer offer maritime insurance through Lloyd's of London, considered the very foundation of maritime insurance. It is unknown what this means for Neon and subsidiary Orca, ShippingWatch is informed.

Photo: /Ritzau Scanpix/AP/Lefteris Pitarakis/AP

The owner of UK insurance company Neon no longer wants to offer marine insurance through Lloyd's insurance market in London, informs the owner, US-based American Financial Group (AFG), in a press statement.

AFG will now launch a process to place the insurance group's "Lloyd's subsidiaries including its Lloyd's Managing Agency, Neon Underwriting Ltd., into run-off."

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