New MGA

Chaucer, the global specialty (re)insurance group, and Ceto AI, a technology company, are launching a marine managing general agent, operating as a Lloyd's coverholder. Ceto is authorised to bind marine hull risks on behalf of Chaucer's Lloyd's syndicate, with additional capacity provided by Tokio Marine Kiln, a member of the Tokio Marine Group. Ceto uses high-frequency vessel machinery and performance data to inform underwriting decisions. The launch marks a significant development in the application of real-time operational data within the Lloyd's marine market, introducing a data-led underwriting model designed to enhance risk selection and accurately reflect the condition and performance of insured vessels.