James Hallam Ltd will expand its specialist lines insurance offerings to clients after becoming a Lloyd’s registered broker as part of its ambitious, ongoing growth plans.
The firm, which is based in the City of London and has five more branches across the UK, was registered as a Lloyd’s broker by the Lloyd’s Broker Relationship Management team in May.
Howard Fryer, James Hallam Ltd City & Mid-Market Director, said: “Joining Lloyd’s as a registered broker provides James Hallam Ltd with full access to the prestigious Lloyd’s insurance market and a wider range of specialist underwriting capacity. This enables us to offer our clients and appointed representatives a broader range of coverage and, potentially, higher capacity limits.”
Lloyd’s broker status will deliver specific support to the growth of two of James Hallam Ltd’s specialist divisions. These are Profin, which targets professionals such as accountants and fund managers, and ProMed, which covers medical professionals and medical device manufacturers.
It also enables James Hallam Ltd to offer improved market access to its partner brokers, which are appointed representatives, and whose clients operate across multiple territories.
Lloyd’s registration follows James Hallam Ltd’s recent approval as a chartered insurance broker by the Chartered Insurance Institute (CII) in recognition of its ongoing commitment to ethical practice and raising professional standards. And in January 2016, James Hallam Ltd joined Trust Risk Control (TRC), an international broker alliance that supports members servicing global risks in other territories.
Mr Fryer said: “Becoming a Lloyd’s broker is part of James Hallam Ltd’s progression to having the widest possible access to the London insurance market and supports our growth ambitions.”
He added: “James Hallam Ltd has made some significant progress in the first half of 2016. Already this year, James Hallam Ltd has joined the TRC international broker alliance, been approved as a chartered broker and become a Lloyd’s broker, as well as completing the acquisition of Annandale Insurance Brokers in April.
“We remain keen to attract the very best individuals and teams to help us realize our ambitions as we continue to grow in the UK market.”
Umron Ahmed, Head of Broker Relationship Management for Lloyd’s, said: “I am delighted James Hallam has joined the Lloyd’s insurance market by becoming a Lloyd’s registered broker. This requires applicant brokers to meet certain minimum standards set by Lloyd’s, which enables them to place business directly with Lloyd’s markets. The addition of James Hallam to the Lloyd’s market is most welcome.”