News

News

July 2016

Kay International Plc is pleased to announce that we have placed a Yacht Facility to insure “YACHTS” worldwide – offering wide coverage at competitive premiums.

We cover small to medium size yachts up to USD/EUR 10,000,000 or equivalent in any other currency.

Any one vessel, privately owned, pleasure and charter crafts, both motor and sailing yachts (minimum value USD/EUR 100,000). In addition cover is provided for Third Party Liability, Protection and Indemnity and Water Skiers Liability up to USD/EUR 10,000,000.

Security is provided by Lloyd’s of London, rated A+


March 2016

Kay has placed a unique Surplus line and/or Excess of Loss facility (£5m) at Lloyd’s and in the Company Market for Commercial property risks. The facility is designed to follow the original terms and condition of the policy for UK and Republic of Ireland risks and hence give extra capacity to the MGAs.


Feb 2016

Kay has renewed its binder with GIC Re with an increase limit of USD 5m.


Nov 2015

We are pleased to inform you that we have extended our facility with GIC Re to include certain treaty reinsurances. The limit will be the same as our existing capacity.


Nov 2015

Kay International plc has signed a joint agreement with Istanbul Underwriting Centre (IUC) to cooperate on all reinsurance projects. ICU will represent Kay in Turkey and Azerbaijan.


Oct 2015

Kay International placed £5M facility with an 'A' rated carrier to cover ATE.


Oct 2015

Kay International has sold its UK domestic Property portfolio to GB Underwriting Ltd.


May 2015

We are pleased to announce that Mr Walid Sidani has joined the Board of Directors of Kay International Plc

  • Walid was Chief Executive Officer at Abu Dhabi National Insurance Company (ADNIC).
  • Prior to joining ADNIC, Mr Sidani held several leadership roles with AIG in the United States, Egypt and the UAE.
  • Mr Sidani is currently a member of the International Insurance Society (U.S.A) and of the Higher College of Technology's Industry Advisory Council (U.A.E)
  • He also serves as a board member for the Emirates Marine Vessel Classification Society (Tasneef).


Sept 2015

New 100% Accident & Health facility with A Rated Carrier, US$ 5 million capacity covering:
 
Accident & Health
Personal Accident and Sickness (Individuals or Groups, any profession)
Territorial Limits: Worldwide.
Limits:
Accident Death/Permanent Total Disability- Maximum US$ 2,500,000 per person
Medical Expenses (arising from Accident) -  Maximum US$ 50,000 any one occurrence/any one person
Transportation to medical facility – Maximum USD 10,000 any one occurrence/any one person


May 2015

We are pleased to announce that as from 1st May we have placed a WORLDWIDE (Re) Insurance facility, 100% at Lloyds for:

  • Contractors All Risks (Civils) and associated Delay in Stat-up Insurance
  • Erection All Risks (machinery installation) and associated Delay in Start-Up Insurance
  • Operational Power including Machinery Breakdown together with Operational Business Interruption
  • Limit per declaration USD 25,000,000 on a PML basis


April 2015

We are pleased to inform the market that as from 1st of April we have renewed our facility with Unity Re - Limit is USD 3m; same as before.


March 2015

Kay has renewed its UK Property binders with ERGO (100% owned by Munich Re) and by Amtrust. Our limit is now £7 million per location in addition to £5 million Public Liability binder.


May 2015

We are pleased to inform you that as from the 1st May we have placed a WORLDWIDE facility, 100% at Lloyds for:

Contractors Plant & Equipment (CPE) covering:

  • All risks of Physical Loss or Damage to Contractors Plant and Equipment, Trucks, Trailers and/or any item of Mobile Plant as underwritten by the (re)insured.  Including General Machinery and Equipment of every kind and description, including those in the process of assembly and/or repair as per schedule supplied, all as more fully defined in the Original Policy Wording.

  • Limit - maximum USD 5,000,000 in respect of any one loss or series of losses arising from one event.


March 2015

Kay has placed a professional Binding Authority line slip with Amtrust ("A" rated Carrier). Our limit on the slip is £5 million - Facility is worldwide excluding USA/Canada - Our facility is from 1st March 2015.


Dec 2014

"Following the recent resignation of the CEO of ADNIC (Mr Walid Sidani), the underwriting management at ADNIC has concluded that the facility granted by ADNIC to Kay International is no longer in line with its corporate risk appetite and has served notice to terminate the facility. We wish to record our thanks to ADNIC for their support for us in the past and extend our best wishes to the new CEO Mr Ahmed Idris and to Walid, in his future endeavours.


Sept 2014

We are very pleased to announce that we have commenced a new partnership with GIC Re (AM Best "A" - Rated" which mandates Kay to develop a portfolio of international facultative risks including property and marine accounts, on their behalf.

This is a departure from existing strategies for both companies, where both companies are now keen to develop new facultative reinsurance business, in territories such as Latin America and Europe.

The agreement will permit Kay to bind shares, on behalf of GIC Re, on facultative reinsurances following suitable leading underwriters in the London market.

Brian Salmanpour commented that "we are delighted to have obtained this important support from this prestigious market in the Asia, sitting alongside our existing facility with ADNIC, one of our oldest and most important underwriting partners in the MENA region. The time is right for them to begin participating in more"international" business, under the firm leadership and direction of the London market".


July 2014

The Insurance Review - Interview with Kay International Chairman Brian Salmanpour click here.


July 2014

We are very pleased to announce that we have commenced a new partnership with Abu Dhabi National Insurance Company ("ADNIC") by entering into a co-operation agreement with ADNIC, which mandates Kay to develop a portfolio of global facultative property accounts on their behalf. This is a departure from existing strategies for both companies, which have, in the past, tended to steer away from any exposures in North America. Mr. Walid Sidani , the CEO of ADNIC, visited Kay's offices on Thursday 26th June, to sign the agreement with Brian Salmanpour, the Chairman of Kay International. The agreement will permit Kay to bind shares, on behalf of ADNIC, on facultative reinsurances following suitable leading underwriters in the London market. Brian Salmanpour commented that “we are delighted to have obtained this important support from one of our oldest and most important underwriting partners in the MENA region and we agree with them that the time is right for them to begin participating in the global market under the firm leadership and direction of the London market”.



July 2014

We are pleased to announce that Kay International plc are now at Lloyd's. Our registration permits us to conduct open market business, and place delegated underwriting authority business on behalf of approved coverholders with the Lloyds market.


July 2014

Kay International 'Marine Cargo quote engine' is now live. The engine is open to all brokers Worldwide.
Go to: www.insuremycargo.co.uk and get a quote.
For open covers and referrals, talk to an Underwriter at Kay.


June 2014

Kay International have renewed their Marine Cargo Binder with a limit of USD5M per shipment, 100% Lloyd's. They have placed a lineslip Cargo facility at Lloyd's with a limit of USD 7.5M. Led by Caitlin, covering Cargo, Stock Throughput, Excess Stock and War on Land.


April 14

Yet another profitable year for Unity Re, hence they have renewed Kay's property reinsurance binding authority with the limit of USD3m - PML per location.


March 2014

Kay has brought in a fresh team to add to its UK underwriting division. We are glad to inform our brokers and clients that our UK property binder/facility with Gt.Lakes (100% owned by Munich Re) and AmTrust, both "A" rate insurers, has been renewed. Our underwriting limit with properties in the UK is now £7M per property.