Rokstone, an international specialty re/insurance managing general agent (MGA), has announced that its Agriculture division has entered into a new capacity agreement with AXA XL, introducing an excess livestock risks facility with limits of up to USD $20 million.
The company said the facility strengthens its livestock proposition by providing additional capacity for excess livestock risks, while also offering an alternative source of capacity for primary livestock business written on a non-admitted basis.
The agreement complements its existing USD $10 million primary perils facility, which supports livestock risks on both an admitted and non-admitted basis. With the addition of the new AXA XL-backed facility, Rokstone said its total available livestock capacity has increased to USD $30 million.
Rokstone stated that the new excess layer enables its Agriculture division to underwrite a broader range of livestock risks, including exposures that exceed the appetite of its primary facility.
Eric Conklin, CEO, Rokstone Agriculture, commented: “We’re delighted to have such committed capacity partners. I joined Rokstone from AXA XL, so I’m personally delighted to have their quality endorsement – it stands as a testament to the market’s confidence in our expertise and support for the forward-thinking approach and innovative portfolio we bring to the world of livestock insurance.
“This excess capacity is especially critical at a time of increased risk exposure for owned and non-owned livestock businesses, with clients looking for higher limits to meet the growing value of their stock. Our tailored livestock risk solutions are going from strength to strength, thanks to top-tier capacity, market-leading talent, and ATOMX technology-empowered service.”
Lorraine Mills, Underwriting Manager – Livestock, AXA XL, added: “We are pleased to partner with Rokstone Agriculture on this new excess livestock facility, which reflects our confidence in the team’s specialist underwriting expertise and disciplined approach to risk selection. We look forward to building on our long-standing relationship with Rokstone and supporting its continued growth in this important sector.”
Source - https://www.reinsurancene.ws
