Aviva, a UK insurer, has expanded its Global Corporate & Specialty (GCS) division by introducing two new lines of business: Political Violence and Terrorism (PVT) and Accident and Health. These lines are now available on the Lloyd’s market through Probitas, a subsidiary of Aviva. The PVT line provides protection against global political violence and terrorism risks, complementing the existing Accident and Health and Contingency offerings. The coverage is available for international businesses against worldwide exposures, with limits of up to £500m per risk.
The move is part of Aviva’s strategy to become a “dual-platform London Market insurer” and provides a comprehensive suite of crisis management products to brokers and clients. The company plans to assess further opportunities to underwrite new lines of business through Probitas ahead of 2025.
Luke Powis, head of Aviva GCS crisis management, stated that the introduction of the new class of business “unleashes a wealth of untapped opportunities for Aviva’s GCS business.” Probitas Syndicate 1492 chief underwriting officer and active underwriter Antony Dodson added that the company is pleased to begin writing Accident and Health and Political Violence and Terrorism classes through Probitas Syndicate 1492.
Aviva acquired Probitas in July 2024, which included the Lloyd’s platform and tenancy rights to Syndicate 1492. The company has also partnered with automated reconciliation solution provider AutoRek to enhance efficiency and ensure compliance. The new lines of business are expected to provide additional opportunities for Aviva’s GCS business and demonstrate the company’s commitment to providing comprehensive insurance solutions for its brokers and clients.