International specialty re/insurance managing general agent (MGA) Rokstone has announced that its agricultural division has entered into a new capacity agreement with AXA XL, introducing an excess livestock risk facility with limits of up to $20 million.
The company said the facility strengthens its livestock proposition by providing additional capacity for excess livestock exposure, while also providing a non-accredited alternative source of capacity for junior livestock operations.
The agreement complements its existing $10 million prime risk fund, which supports admitted and non-admitted livestock risks. Rokstone said that with the addition of the new AXA XL-backed facility, its total available livestock capacity has increased to $30 million.
Rokstone said the new residual tier enables its agriculture unit to cover a wider range of livestock risks, including risks beyond the capacity of its primary facilities.
Eric Conklin, CEO of Rokstone Agriculture, commented: “We are delighted to have such a committed capacity partner. I join Rokstone from AXA XL so I am personally delighted to receive their quality recognition – this is testament to the market’s confidence in our expertise and support for the forward-thinking approach and innovative product portfolio we bring to the livestock insurance sector.
“This excess capacity is particularly relevant at a time when risk exposure for owned and non-owned livestock businesses is increasing, with customers seeking higher limits to meet growing inventory values. Our tailored livestock risk solutions are continually enhanced thanks to top-tier capacity, market-leading talent and ATOMX technology-enabled services.”
Lorraine Mills, Livestock Underwriting Manager at AXA
