SLU inks Lloyd's capacity deals to boost CAR/EAR limits to $25 million

By Chris Munro

March 6 - (The Insurer) - Specialty Lines Underwriters (SLU) has increased the facultative reinsurance limits it can offer for construction and engineering risks to $25 million after the Miami-based MGA inked a new capacity deal with certain Lloyd’s underwriters.

Previously, Yesid Rodriguez-led SLU had been able to offer construction all risk (CAR) and erection all risk (EAR) limits of $10 million.

However, the new capacity agreements with the unnamed Lloyd’s carriers mean the MGA can now offer limits of up to $25 million for CAR and EAR risks.

SLU said the increased capacity it can offer reinforces its commitment to supporting insurers in managing construction and engineering projects.

“This strategic enhancement aligns with the company’s dedication to providing reinsurance support from top-tier markets and technical expertise to its clients,” SLU said.

“This move further strengthens SLU’s position as a trusted partner for primary insurers, brokers, and risk managers, offering tailored solutions backed by a deep understanding of engineering risk and a strong financial foundation,” the company added.

SLU writes a suite of property and engineering insurance business around the world, although the bulk of its book is focused on Latin America and the Caribbean.

Rodriguez set up SLU in 2019, prior to which he spent just over three years at Brit Insurance.

His career also includes stints at PartnerRe, TrasnRe, Marsh and RSA.