New Lloyd's coverholder Leadenhall Asia to begin trading in Hong Kong

Leadenhall Asia, a new digital-first Lloyd’s Coverholder and managing general agent (MGA) based in Hong Kong, will begin trading its inaugural cyber product designed for the "underserved" SME market across the region.

Leadenhall Asia is led by former XL Catlin Asia management Jason Smith and Kin Lau. It secured capacity from cyber specialists Tarian consortium at Lloyd’s to service the SME segment, specifically businesses with annual turnovers of between $1million - $100million.

The new cyber product will offer SME's with access to comprehensive first party and third-party protection, including intangible and tangible property cover. Additionally, it will offer financial loss from business interruption resulting from a breach.

Leadenhall Asia claims that its end-to-end digital underwriting and distribution platform enables brokers and their customers to obtain a cyber quote, bind a risk and complete policy documents within five minutes.

Lau, Leadenhall Asia’s managing director, said: "We are very excited with the launch of our Cyber offering, leveraging our proprietary underwriting platform, our partnerships with leading Cyber Underwriting specialists at Lloyd’s, together with Clyde & Co to deliver first class breach response. We have worked tirelessly over the last few months to develop what we believe to be a unique digital value proposition to Brokers in Hong Kong and Asia, with the streamlined delivery of a Comprehensive Cyber Insurance coverage designed specifically for SME’s. A truly, end-to-end, B2B underwriting platform providing real-time digital Insurance solutions.”