01/04/2021
Facet Underwriting (Facet) today announced that it has been granted Full Authorisation from the Financial Conduct Authority (“FCA”).
Facet is a Managing General Agency (MGA), Lloyd’s Coverholder and Chartered Insurer which provides delegated underwriting services to the London Insurance market. It currently specialises in Fine Art, Jewellers Block, General Specie, Cargo and other marine classes.
Duncan Boardman, Chief Operations Officer stated: “We are delighted to have secured FCA Authorisation. Approval by the FCA demonstrates that our policies & procedures are appropriate and robust and allows us to provide value-added services to our client. This is a key milestone in our strategy for future growth. It builds on our Chartered Insurer and Lloyd’s Coverholder status and provides us with a stable platform for expansion into other classes of business.”
Since 2015 Facet had been operating as an appointed Representative of Lloyd’s broker Bannerman Rendell who provided support and services allowing Facet to focus on underwriting.
He continues “We would like to thank Bannerman Rendell for their support over the last few years which has given us the freedom to build a profitable underwriting business and to provide a great customer service for our brokers and insurers”.
