Al Wathba Insurance has become the first UAE insurance company to enter the Lloyd’s of London market through the London Bridge 2 PCC structure.
This strategic move, completed through Cell 27 of London Bridge 2 PCC, an Insurance Linked Securities (ILS) structure, marks a significant evolution in Al Wathba’s growth strategy.
It enables the company to efficiently deploy capital to support Lloyds Group while diversifying revenue globally.
Beginning in fiscal 2026, the company expects to realize returns from an underlying portfolio of more than $100 million in global property and casualty (P&C) premiums.
Al Wathba worked with Lockton Re, including Middle East and North Africa chief executive Gerard Monayer, and Lloyd’s Capital head James Mackay and his team to structure the deal and manage the underlying Lloyd’s syndicate’s portfolio.
Commenting on the deal, Shukri Almheiri, CEO of Al Wathba Insurance, said: “This landmark investment will provide Al Wathba Insurance with a significant competitive advantage.
“We will leverage the highly complex risk solutions offered by Lloyd’s of London while leveraging the investment returns that the Lloyd’s market has historically delivered.”