Azerbaijan, Baku / corr Trend U. Ismayilova / The Thames Insurance Group will reinsure construction risks at the reinsurance company, entering Lloyd's syndicate, the company said on 26 September.
Lloyd's is known as the market which is capable of undertaking the biggest risks, distributing the claims rate among insurance agents. The biggest risk, insured by Lloyd's underwriters amounted to $3.7bln.
The Thames Insurance Group and a part of the syndicate signed a contract on reinsurance of construction risks in Azerbaijan.
An under-rater of one of Lloyd's syndicates visited Azerbaijan at the invitation of the Thames Group. Underwriters carried out meetings with representatives of building companies, studied the construction sector, and the construction materials market in Azerbaijan.
The details of insurance construction risks were withheld.
Established in 1996, the Thames Insurance Group is a joint British-Azerbaijani insurance company having shareholders in both countries.