Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, has teamed up with leading reinsurers to deliver enhanced facultative capacity for US Terrorism risk through its groundbreaking electronic placement platform, FAConnect.

Capacity for the facility is being supplied by several Lloyd’s Syndicates, led by Ascot and supported by Amlin, Beazley and Liberty.

Aon Benfield clients can now access up to USD250m facultative Terrorism reinsurance cover for any one risk via FAConnect, in addition to the standard market capacity Aon Benfield can access on their behalf.

Elliot Richardson, Chief Executive Officer of Aon Benfield Fac, said “The new FAConnect Terrorism facility highlights how Aon Benfield is proactively sourcing the highest quality capital in order that we can deliver new capacity to our clients. Having access to the widest range of markets means we can structure the very best reinsurance solutions for our clients’ individual risk placements.”

Andrew Brooks, CEO of Ascot Underwriting, added: "This facility is an excellent vehicle for Ascot to respond to our customers' needs for additional capacity.   This product provides certainty of coverage and security for clients, and we are delighted to build on an already successful partnership with Aon Benfield and expand our offerings via FAConnect."

The Terrorism facility follows the recently launched FAConnect Chile earthquake facility, which offers access to USD50m cover for any one risk, provided by Ascot Underwriting in an exclusive agreement.

FAConnect is a proprietary electronic platform that allows Aon Benfield clients to quote and bind their own facultative risk placements from any internet-enabled device in less than five minutes. It provides access to a range of global markets, and is designed for high volume, lower value transactions, where frictional costs have traditionally made it uneconomical for intermediaries to participate in the sector.

FAConnect users simply log-on and input the risk data to receive an automatic quote from their pre-negotiated market of choice. When the risk is accepted, a Fac Summary Page is generated, detailing coverage, limits, and premium information.

Facilities are monitored in real-time to track and report on underwriting rules, overall activity and production. Bordereaux, management reports and other production reports are also available, and first notices of loss can be processed through FAConnect by Aon Benfield claims teams.

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About Aon Benfield

As the industry leader in treaty, facultative and capital markets, Aon Benfield is redefining the role of the reinsurance intermediary and capital advisor. Through our unmatched talent and industry-leading proprietary tools and products, we help our clients to redefine themselves and their success. Aon Benfield offers unbiased capital advice and customized access to more reinsurance and capital markets than anyone else. As a trusted advocate, we provide local reach to the world’s markets, an unparalleled investment in innovative analytics, including catastrophe management, actuarial, and rating agency advisory, and the right professionals to advise clients in making the optimal capital choice for their business. With an international network of more than 4,000 professionals in 50 countries, our worldwide client base is able to access the broadest portfolio of integrated capital solutions and services. Learn more at aonbenfield.com.

About Ascot Underwriting

Ascot Underwriting Ltd. – Syndicate 1414 – commenced trading in 2001 and has grown very quickly to become one of the leading businesses operating at Lloyd’s. The underwriting capital for the Syndicate is provided by a member company of American International Group, Inc. Main Syndicate classes are Property, Energy, Specie & Fine Art, Cargo, Terrorism, War & Political Risks, Marine Hull/War/Liabilities, Natural Resources and Excess of Loss Reinsurance. Ascot leads in most of these classes and leads over 40% of the slips we write.

For further information please contact:

David Bogg                                  Andrew Wragg                                

Aon Benfield                                  Aon Benfield                                      

t: +44 (0)20 7522 4016                   t: +44 (0)20 7522 8183                       

e: david.bogg@aonbenfield.com      e: andrew.wragg@aonbenfield.com